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

  • "My wife and I decided to move to Waterloo from Toronto. When we were looking for a Waterloo realtor he was easy to find on Google. We contacted him and he replied quickly to set up an appointment for a meeting. We just required an agent to find a home for us because we were just renters in Toronto. Mike understood our requirements and found us the exactly what we were looking for. Mike Bolger is one of the smartest real estate agents I've ever met. He is well-versed in technology, real estate economics and customer service. He is truly one of the most innovative agents that I have had the pleasure working with. "
    Ken Moran
  • "Working with Mike Bolger has been a great experience. I really like his drive to succeed. He also goes over and beyond! I highly recommend him to anyone who wants service."
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  • "It was a great experience working with Mike Bolger from Coldwell Banker. He was very helpful, reliable, and professional. My wife and I ask a lot of questions. Mike's response to our questions and concerns was quick and he kept us well updated throughout the entire process. We received five star service and we will be recommending Mike to our family , friends and our network. Thanks again!"
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