Tools

Mortgage Calculator

Advance
Monthly:
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How much can you afford?

Buying a home usually means getting obtaining a mortgage loan. You will find a useful mortgage calculator below that will give you the monthly payments that you could expect given your particular financing situation.

Monthly:
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Loan amount
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Total interest paid
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Bi-Weekly:
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Loan amount
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Down Payment
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Amortization Period
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Interest Rate
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How much can you afford?

Buying a home usually means getting obtaining a mortgage loan. You will find a useful mortgage calculator below that will give you the monthly payments that you could expect given your particular financing situation.

Top frequently asked questions related to Presales' mortgage?

As a buyer do I need a mortgage pre-approval?

A mortgage pre-approval is a critical to possess prior to beginning a property search. Upon receiving a pre-approval, you will know the maximum limit that you can afford for a property purchase. The result is that the property search process will become more efficient as the search criteria is precise.

How do I get a mortgage pre-approval?

We have several specialists who can help you with the pre-approval process. Please reach out to us on our contact page.

What are some tips before getting a pre-approval?

Before are potential tips to adopt when you are thinking of getting a mortgage:

  • Try to not change to a new job or quit your current job
  • Try not to buy a new car or upgrade to a more expensive lease
  • Do not miss or delay bill payments
  • Try to not open many new credit cards

What is the CMHC insurance premium?

The CMHC insurance premium is in effect on a property when the buyer has less than 20% down payment. When a down payment is under 20% of the purchase price, a mortgage insurance on the loan is likely needed. CMHC stands for Canada Mortgage and Housing Corporation.

Who needs to pay the CMHC insurance premium?

The buyer is responsible for paying the CMHC insurance premium if the criteria is met.

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