Mortgage Calculator


Ontario Mortgage payment calculator

 

 

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

  • "Mike Bolger is one of the best realtors in Waterloo. He sold my home for over the asking price. I like that he is a go-getter and I don't have to chase him for the answers to my questions. He is an expert in real estate and his network saved me a lot of money and time. Mike marketed my home everywhere. "
    Gil L.
  • "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.
  • "Working with Mike has been a wonderful experience. His knowledge of the market compliments the needs of the buyer. He is well informed and well connected and is not afraid to tell it as it is. He took a stressful situation and helped diffuse all concerns and alleviate my worries -- something that just came naturally to this genuinely nice guy. I would most definitely recommend him to buy or sell in the KW Region. "
    Jo S.

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