Mortgage Calulators

Definitions

  • Income - total gross before tax income.
  • Debt Payments - loan payments for car, student loan, etc.
  • Mortgage - amount of loan for the home.
  • Rate - interest rate for this mortgage.
  • Amortization - the number of years over which you will repay this loan. Amortization over 25 years is common.
  • Heating - cost for electicity or gas for heating your home.
  • Condo Fee - monthly strata maintenance cost.
  • Property tax - actual or estimated tax for the property.
  • Purchase - purchase price of your home.
  • Downpayment - your own money from savings or gifted.┬á
  • Mortgage - the loan you borrow from your bank or credit union.
  • Payment frequency - how often you pay your mortgage.