Some basic questions, answered.
A mortgage payment calculator works out your payment by considering the interest rate, amortization, mortgage balance outstanding, rate of compounding and payment frequency.
Online mortgage calculators should only be used for estimating potential costs. It is always recommended to speak to a professional mortgage broker who can guide you through a full mortgage application.
While getting preapproved and shopping for properties or during your mortgage research phase a mortgage calculator can help you compare different mortgage scenarios. You may be looking at a rough financial budget to determine what down payment level will result in your desired monthly mortgage payment.
To make it easier for our current and potential clients all of the rates in our mortgage calculators are current rate specials. Not all mortgage rates might be applicable to your transaction. These mortgage rates are also subject to change, so it’s important to speak to a mortgage broker to find out which rates you qualify for.
We are happy that our mortgage calculator has helped you crunch some numbers. You can choose to complete a full mortgage application online, contact us directly by phone or email.
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