Purchase Calculator

Rate

Your mortgage interest rate can either be Fixed for the term or Variable (which changes with the prime rate). The Rate Term is the contract length with a lender.

Rate
Rate Term

Amortization

View schedule

Amortization is the total time it takes to pay off your mortgage in full. New mortgages usually start with an amortization of 25 years or 30 years in Canada.

Pay your mortgage faster

Home Expenses

To budget better and calculate a more realistic Total Monthly Cost, enter the additional home expenses here.

PROPERTY TAX
Condo fees (Monthly)
i
Heat
i
Other monthly expenses
i

Add Rental Income

Purchase Price
$152,072
Monthly Mortgage
$4,106.37
Home Expenses
$1,033.33
Other Expenses
$0.00
Rental Income
$0.00
Mortgage Amount $585,000.00
Land Transfer Tax $14,475.00
Legal Fees $2,000.00
Title Insurance $300.00
Total $29,250.00

Details

Mortgage Payment
$4,106.37
Net Mortgage
$585,000.00
+ $0.00
Interest paid over term
$173,323.82
Balance at end of Term
$527,665.93
Effective Amortization
25 Years