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Mortgage Calculator

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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.

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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?

What are commissions for?

Real estate commissions are known as the fees paid towards real estate agents for their services. Commission rates vary depending on the area and the specific seller/listing agents you choose to work with.

Who needs to pay?

Typically, the seller has to pay for all commission fees which includes both the seller/listing agent of the property and the buyer’s agent. The buyer does not have to pay the realtor commission in most cases.

Who receives the commission?

The listing agent receives commission from the seller which is then split between the listing agent and buyer’s agent upon completion. The split range varies, but a good approximation across British Columbia is 50/50.

What does this mean for you?

Although there is no standard commission rate across British Columbia, our commission rate comes in at 7% on the initial $100,000 of a property’s price plus 2.5% on the remaining balance. The commission will then be split between the listing agent at approximately 55% and the buyer’s agent at approximately 45%.

How to calculate a commission total?

In order to understand how to calculate a commission total, let’s look at a real-life example. Assume the commission rate used is 7% on the initial $100,000 of a property’s sales price plus 2.5% on the remaining balance. If the price of a property is set at $900,000, then 7% on the initial $100,000 will amount to $7,000. The remaining balance from the property’s sales price is $800,000 ($900,000-$100,000). Therefore, 2.5% of $800,000 amounts to $20,000. The total realtor commission fee for this example is $27,000.

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