Most buyers will need to get a mortgage as part of the home ownership process. With any mortgage, there will be periodical payments to be made (bi-weekly, monthly, etc...). The amount of this payment will vary depending on many factors. It is critical to stay within budget and take on an affordable mortgage. The calculator below will give you the monthly mortgage payment based on the property price, downpayment, interest rate, and amortization.
Mortgage Payment Calculator
Property Price
$
Downpayment
% $
Interest Rate (Annual)
%
Amortization (Years)
Monthly Payment
{{ monthlyPayment() | currency }}
Downpayment must be at least 5% and not more than 100%
Amortization cannot be 0, and cannot exceed 30 years (25 years for downpayments less than 20%)
Interest Rate cannot be 0 or exceed 100%
Got questions on the information or calculation?
Call or email me and let’s talk.I will be more than happy to discuss and answer any questions that you may have.
Disclaimer:
The above calculator is for illustration purposes only.
It is not intended to provide any advice, including but not limited to, financial, investment, tax, legal, and accounting advice.
The calculator should not be acted or relied upon without seeking the advice of a professional
to ensure that your own circumstances are properly considered and action is taken on the latest available information.
Pre-defined values represent examples that are hypothetical and are shown for illustrative purposes only,
and user inputted values automatically update the calculation results.
While care is taken in the preparation of this calculator and regular updates are maintained,
No express or implied warranties, representations, guarantees, or endorsements are provided with respect to any of the above information,
or the calculations in connection with this calculator, as to the accuracy, completeness, reliability, applicability, and fitness for a particular purpose.
Affordability Calculator does not consider any CMHC insurance costs. Interest Rate is compounded semi-annually.
We ("Fady Daoud" and "HomesByFady.com") are not responsible, and will not be liable to you or anyone else, for any losses or damages,
whatsoever and howsoever caused, arising from any errors or omissions in any of the above information or calculation results,
or any action or decision made by you in reliance on any of the above information or calculation results.