Use our calculators to see what future homeownership will look like.
An important part of the mortgage process is determining what you can afford. Our handy calculators below can help you explore the different payment options available to you. As there are many lender options available, please give us a call anytime at (250) 762-2070 or apply online to determine the exact amount of mortgage that you qualify for.
To use the 'Mortgage Payment Calculator' below, simply fill in your purchase price, downpayment, amortization and payment frequency, and this calculator will show you how much your payments will be and the balance of your mortgage after one to ten years.
Mortgage Payment:
Mortgage Balance Remaining After:
1 year
2 years
3 years
5 years
10 years
Information is provided for sample purposes only. The Mortgage Centre does not guarantee its accuracy. Information should be verified and should not be relied upon as legal, financial, or other advice.
Here are 6 more handy calculators you can use to determine how much home you can afford and the various costs involved. You can even perform "what if" scenarios to see which options might work best for you.
Rent vs. Buy Calculator Simply fill in your current rent and what your anticipated costs of home ownership are, and this calculator will tell you whether you're better off renting or buying.
Maximum Mortgage Calculator This calculator will tell you the maximum mortgage amount and monthly payment you can qualify for based on your income and existing expenses.
Mortgage Qualifier Like the Maximum Mortgage Calculator, this calculator shows you how much mortgage you can afford. But this time, you can put in the house price you have in mind, along with your expenses, and the calculator will show you how much income you'll need to qualify.
Mortgage Payment Calculator Simply fill in your purchase price, downpayment, amortization and payment frequency, and this calculator will show you how much your payments will be and the total amount of interest you'll pay over the life of the mortgage.
Mortgage Isolator Calculator Like the Mortgage Payment Calculator, this calculator shows you how much your payments will be. But here you can isolate and change your payment frequency, amortization, mortgage amount, interest rate or payment size to see what effect it will have on the other variables.
Mortgage Monitor Once you've made your purchase, you can use this advanced management and optimization tool to help you take control of your financial future. Explore what the effect will be if you make extra payments, increase your payment size or experience a change in interest rate. You can access the Mortgage Monitor site by clicking above or by going directly to mortgagemonitor.ca. These tools are provided for educational and illustrative purposes only. The accuracy of the calculations and their applicability to your circumstances are not guaranteed.
