Canadian mortgage calculator

Input Information
Property Information
Home Value : ($)
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Yrs)

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Name :
Phone # :

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Financial Analysis Switch to Plain English
Monthly Principal & Interest : $2,192.41
Total Monthly Payments : $789,255.41
Total Interest Paid : $439,267.06
Down Payment : $-50,000.00
Required Down Payment : $75,000.00
Required Income : $82,215.32
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 $350,000.00 at a 6.500% 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 $2,192.41. Your total payments will be $789,255.41 for the life of the loan. This means you will pay $439,267.06 in interest.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your own financial advisor.