Mortgage Calculator

Mortgage Payment Calculator

 

Glossary of Terms

Total amount:
Original or expected balance for your mortgage.

Downpayment:
Amount paid upfront minimizing the Mortgage amount.

Interest rate:
Annual interest rate for this mortgage.

Amortization period:
The number of years over which you will repay this loan. The most common mortgage amortization periods are 20 years and 25 years.

Mortgage payment:
Your principal and interest payment (PI) per period.

Total Mortgage with Interest:
Total of all monthly payments incl. Interest over the full term of the mortgage without down payment.

Total with Down Payment:
Total of all monthly payments incl. Interest over the full term of the mortgage including down payment.

Calculator Disclaimers

The maximum for mortgage approval may vary. Use Net income for self employed/commissioned sales applicants. * Calculations exclude secondary financing and are estimates only. Please contact a mortgage specialist to discuss conditions that may apply to your circumstances. The information contained on this page is for estimation purposes only. Actual payment amount must be obtained from your lender of choice. Horsefly Realty shall not have any liability for the accuracy of the information contained on this page.

Interest is compounded semi-annually not in advance. Interest rate is fixed for the term of the mortgage. * Calculations are approximate and do not account for the payment of property taxes or insurance premiums that may be required. The information contained on this page is for estimation purposes only. Actual payment amount must be obtained from your lender of choice.  Horsefly Realty shall not have any liability for the accuracy of the information contained on this page. This calculator is for demonstration purposes only. Horsefly Realty does not guarantee that all calculations are accurate. Always consult a professional financial adviser before making personal financial decisions.

 

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