This simple calculator can help you determine what your monthly payments will be, as long as you accurately provide:
The Mortgage Interest Rate
The Mortgage Amortization Period Number of total years of the mortgage, times 12. This is not to be confused with your mortgage term which is only a portion of time that you have an agreement with the lender on your interest rate. For example, a typical amortization period is 25 years, which would be 25 x 12 = 300 months.
The principal amount, Which is your purchase price (and any other monies borrowed with this loan), minus your total down payment.
Calculate the estimated monthly principal plus interest payment (monthly payment) given the amount of principal, amortization period and the Mortgage Interest Rate.
Mortgage term: (E.G: 25,30 Years)
Your Monthly Payments
Mortgage Interest Rate: (APR or Annual Percentage Rate)
If you would like to find out your affordability of this mortgage amount, enter your gross annual income and click Check Affordability.
Do I Qualify?
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