• Schedule a Complimentary Consultation
  • Contact Us
  • Got Questions? Ask Us!
Schedule a Complimentary Consultation

x

Contact Us

x

Got Questions? Ask us!

x

Main Content

Home » Exchange Calculators » Canadian Mortgage Calculator

Canadian Mortgage Calculator

Input Information
Property Information
($)

Loan Information
($)

(%)

(Yrs)





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.