If you require assistance with these mortgage calculators or want a professional to run your mortgage affordability or estimated mortgage payment scenarios, give us a call at (905) 455-5005.
‘Affordability’ Mortgage Calculator
An ‘Affordability’ Mortgage Calculator helps estimate your maximum mortgage carrying capabilities. It uses variables (such as annual income, down payment, monthly debt obligations, property taxes, and heat and maintenance fees) to assess how high you can purchase while staying within banking affordability guidelines, and more importantly, within your budget. An affordability mortgage calculator is a good gauge for your purchasing power and it’s always best to double-check numbers with a mortgage broker.
Mortgage Payment Calculators
Mortgage Payment Calculators are quick and efficient tools to run multiple mortgage payment scenarios. It will calculate your mortgage payment, based on the loan amount, rate, and amortization of your choosing (with almost 100% accuracy). We’ve provided a mortgage payment calculator for both Purchase and Refinance scenarios. Likewise, the results of a Mortgage Payment calculator should also be double-checked with a mortgage broker for possible inaccuracies.