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Gil Whyte

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Loan Information

Canada Mortgage Rate
(compound semi-annual)
US Mortgage Rate
(compound monthly)
Loan Amount ($)
Annual interest rate (1-30%)
Mortgage Amortization (years)
Mortgage Term (years)
Based on the assumptions you have input:

Hide Graph

Your estimated monthly payments are $0, including Private Mortgage Insurance and you will pay $0 in interest over the life of the loan.

(Notice: the payments are rounded to the nearest dollar amount)

Year Beginning Balance Payment Principal Interest Cumulative Principal Cumulative Interest Ending Balance
Step 1 - Income

Combined monthly household income
$
Target House Value
$
Step 2 - Debt Obligations

Monthly auto payments
$
Monthly credit card payments
$
Current utilities expenses
$
Any Other Expenses
Step 3 - New Loan Assumptions

Canada Mortgage Rate
(compound semi-annual)
US Mortgage Rate
(compound monthly)
Annual interest rate on new mortgage
1-30%
Term of new mortgage:(years)
Funds available for a down payment
$
Results

GDS (Gross Debt Service Ratio):
Monthly gross income $0
Gross Debt Service Ratio 0%
Calculated payment for GDS $0

TDS (Total Debt Service Ratio):
Debts and obligations $0
Percent of gross income 0%
Maximum percentage available for mortgage payment 0%
Calculated payment for TDS $0

Payment Calculation
Maximum allowed payment $0
Calculated mortgage amount $0
Down payment $0

Home value you can afford $0
Step 1

Legal Fees
Legal Disbursements
Lawyer's Fee
Land Transfer Tax*

*Not applicable in all provinces and territories.

Total Closing Cost:
Step 2

Appraisal Fee
Home Inspection
Mortgage Broker's Fee
Prepaid Property Taxes

Total Closing Cost:
Step 3

Utility Bill Adjustments
Property Insurance
Survey or Certificate of Location Cost
Title Insurance
Misc Fees

Total Closing Cost:
Legal fees such as mortgage registration, title transfer, tax certificates, land titles searches.
This includes disbursements such as couriers, photocopying, and faxing.
Fees charged by the lawyer who prepares and reviews the purchase documents.
Provinicial or municiple tax payed when purchasing the home. It is also commonly called Land Registration Fee, Deed Registration Fee, Tariff or Property Purchase Fee. It is between 0.5% and 2.0% of the purchase price, depending on your province.
Charged by a licensed appraiser. Many mortgage lenders require that the home be appraised at the buyer's expense. This usually costs between $250 and $500.
Charge to have the home inspected by a professional. A home inspection report usually costs between $250 and $500.
A fee charged by the mortgage lender for preparing and evaluating the loan. Sometimes called the Loan Origination Fee. Usually less than 1% of the loan amount.
Property tax

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