Find out what mortgage amount you can afford and what your mortgage payment and amortization schedule will be. In the Affordability tab, enter your household income and the down payment you can afford, along with approximate monthly expenses to determine what size mortgage you can afford.
Use the Payment tab to calculate your regular mortgage payments based on the amount, interest rate, amortization period, payment frequency and mortgage term. In the Amortization tab, you can do the same thing only to determine your amortization period based on your payments amounts. You can also add prepayments in both tabs to see how much you'll save and when you'll be mortgage-free.
Finally, the Comparison calculator will help you make a decision about which type of mortgage is right for you.
This calculator is simply a tool you can use for illustrative purposes and is not intended to provide investment advice. The applicability and accuracy of the calculations are not guaranteed.
For a better idea of how one of our mortgage products can work for your specific needs, contact one of our mortgage specialists today.
How to Save for a Down Payment (2019)
Buying a home is an extraordinary adventure that comes with a lot of questions. We will walk you through everything you need to know about how to save for your down payment with the Home Buyers Plan.