Canadian mortgage calculator

Input Information
Property Information
Home Value : ($)
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Yrs)
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Financial Analysis (Switch to Plain English)
Monthly Principal & Interests : $1,334.23
Total Monthly Payments : $480,316.13
Total Interests Paid : $230,321.61
Down Payment : $50,000.00
Required Down Payment : $75,000.00
Required Income : $50,033.50
Plain English Help (Switch to Financial Analysis)

If you live in Canada and are interested in purchasing a home, you will need to plug in a few numbers in order to determine how much your mortgage payments will be.

If you are interested in purchasing a home for 300,000.00 Canadian dollars and are interested in taking out a loan for $250,000.00 at a 5.000% interest rate for 30 years, you will be required to put down a $75,000.00 down payment (required down payment is 25% of house list price for homes with prices below $400,000 and 35% if property costs more that that value).

This means your monthly payment (principal and interest only) will be $1,334.23. Your total payments will be $480,316.13 for the life of the loan. This means you will pay $230,321.61 in interest.
Copyright © 2007. Blalock Lakes, LLC. All Rights Reserved. Equal Housing Opportunity. These materials, features and amenities described and depicted herein are based upon current development plans, which are subject to change without notice. All information is believed to be accurate but is not warranted. This is not intended to be an offer to sell nor a solicitation of offers to buy real estate in Blalock Lakes to any residents in states where registration is required prior to any offer being made or in any other jurisdiction where prohibited by law.