Canadian mortgage calculator
Input Information
  
Property Information
Home Value : ($)
Loan Information
Amount :
($)
Interest Rate :
(%)
Length :
(Yrs)
 
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Financial Analysis ( Switch to Plain English)
Monthly Principal & Interests :
$213.48
Total Monthly Payments :
$76,850.58
Total Interests Paid :
$36,851.46
Down Payment :
$10,000.00
Required Down Payment :
$12,500.00
Required Income :
$8,005.36
Plain English Help (Switch to Financial Analysis)
 

If you live in Canada and are interested in purchasing a home, you will need to plug in a few numbers in order to determine how much your mortgage payments will be.

If you are interested in purchasing a home for 50,000.00 Canadian dollars and are interested in taking out a loan for $40,000.00 at a 5.000% interest rate for 30 years, you will be required to put down a $12,500.00 down payment (required down payment is 25% of house list price for homes with prices below $400,000 and 35% if property costs more that that value).

This means your monthly payment (principal and interest only) will be $213.48. Your total payments will be $76,850.58 for the life of the loan. This means you will pay $36,851.46 in interest.