Mortgage Calculator


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Kitchener / Waterloo Mortgage Calculator

When calculating your mortgage amount and monthly payments, you need to take into account various regulations, taxes, and fees. Some of these variables are the same across Canada, while others can vary depending which province you are buying your home in.

 


Regulations, taxes and fees consistent across Canada

Canada-wide mortgage regulations are set by the Ministry of Finance to help protect home buyers and lenders. These regulations include guidelines on minimum down payment, maximum amortization period, and CMHC insurance or mortgage default insurance. These are included in the Toronto mortgage calculator and their details are listed below as follows:

The minimum down payment in Canada is 5% for homes under $1,000,000 or 20% for homes of greater value.

The maximum amortization is 25 years for down payments under 20% and 35 years for higher down payments.

Mortgage default insurance or CMHC insurance must be purchased for down payments between 5% and less than 20%. 


What my clients are saying about me

  • "Our buying and selling experience with Mike was textbook perfect. Mike is professional AND fun. We never once felt out of the loop because Mike is a natural communicator. Mike did is research of both us and the market so we didn't view anything that wasn't worth our time. We learned to become very confident of Mike's knowledge of the buy and sell process so there were no surprises and no deadlines missed and when it came time to make an offer Mike honed in on the right number right away. There is a bonus dealing with Mike; he is well connected with trade-persons and suppliers so through Mike we were able to accomplish much after sale work faster while saving a bundle. We happily recommend Mike Bolger."
    Kevin S.
  • "We were first time home buyers and very active ones. Mike Bolger was not only accommodating to all our needs and friendly but he was informative, helpful, genuine , caring and really made it a stress free and easy process for us ! I would recommend him to everyone."
    Debra S.
  • "Mike is one of the best real estate agents I have had the pleasure of working with. He's always networking in the community and growing his network. He's very ambitious and I like that about him. He found my family a hidden gem in Waterloo and we got it before a bidding war. "
    Flint P

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