H3 Homes - Mortgage Calculators

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Canadian mortgage calculator

Input Information

Property Information
Home Value :	($)
Loan Information
Amount :	($)
Interest Rate :	(%)
Length :	(Yrs)

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Financial Analysis (Switch to Plain English)

Monthly Principal & Interests :	$1,334.23
Total Monthly Payments :	$480,316.13
Total Interests Paid :	$230,321.61
Down Payment :	$50,000.00
Required Down Payment :	$75,000.00
Required Income :	$50,033.50

Plain English Help (Switch to Financial Analysis)

If you live in Canada and are interested in purchasing a home, you will need to plug in a few numbers in order to determine how much your mortgage payments will be. If you are interested in purchasing a home for 300,000.00 Canadian dollars and are interested in taking out a loan for $250,000.00 at a 5.000% interest rate for 30 years, you will be required to put down a $75,000.00 down payment (required down payment is 25% of house list price for homes with prices below $400,000 and 35% if property costs more that that value). This means your monthly payment (principal and interest only) will be $1,334.23. Your total payments will be $480,316.13 for the life of the loan. This means you will pay $230,321.61 in interest.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.