Definitions:
Gross Annual Household Income: Your total income from wages or other sources of primary income before taxes. If you are married or common law, this is your total combined gross annual income.
Down Payment: The amount you pay up front for your mortgage. You’re typically required to pay at least 5% of the total purchase price.
Amortization Period: The number of months or years over which the mortgage is repaid. The maximum amortization period is 35 years.
Mortgage Term: The length of the mortgage contract, which can be tied to a specific interest rate.
Interest Rate: The annual interest rate on your mortgage.
Mortgage Affordability Calculator
The Mortgage Affordability Calculator helps you to determine how much you can borrow.
- First enter your mortgage details.
- Next, enter your expenses.
- Based on the values you’ve entered, your monthly mortgage payment will show here.
You’re able to view your payments in a graph or as a report. You can also print or save your results.
Mortgage Payment Calculator
The Mortgage Payment Calculator estimates the amount of your mortgage payment and generates an amortization schedule for payments.
- Enter your mortgage details.
- You have the option to add additional payments here.
- Your calculated payment will show here.
You’re able to view your payments in a graph and as a report. You can also print or save your results.
Mortgage Amortization Calculator
The Mortgage Amortization Calculator shows how long it will take to pay off your mortgage.
- Enter your mortgage details.
- You have the option to add additional payments here.
- The length of time it will take to pay off the mortgage will be calculated here.
You’re able to view your payments in a graph and as a report. You can also print or save your results.
Mortgage Comparison Calculator
The Mortgage Comparison Calculator establishes which mortgage product might be right for you.
- Enter your mortgage details here. You can enter up to three different scenarios.
- You can compare the calculated results here.
- You have the option to add additional payments here.
You’re able to view your payments in a graph and as a report. You can also print or save your results.