Purchase Calculator
What Will It Cost Me?
Calculate your total monthly cost and the minimum required down payment.
Minimum down payment for a $500,000 home is $25,000 (5%).
Rate
Fixed stays the same for the term. Variable moves with prime.
Amortization
The total time to pay off your mortgage in full. New mortgages in Canada typically start at 25 or 30 years.
Pay your mortgage faster
Home Expenses
Monthly
Yearly
Add Rental Income
Total Monthly Cost
$2,599
Monthly Mortgage$2,599
Home Expenses$0
Details
Mortgage Payment$2,599/mo equiv.
Net Mortgage$475,000
Mortgage Insurance+ $19,000
Interest paid over term$91,959
Balance end of term$430,046
Effective amortization25 years
