Mortgage Financial Calculators - 2020

Here are some useful, easy to use and FREE calculators to manage your finances. before you apply for mortgage.
You can calculate everything related to your loan or mortgage. Your Mortgage Monthly Payment, How much Loan/Mortgage you can afford, How much penalty you need to pay if you break a mortgage contract and much more.
contact us  If you need a professional to analyze your exact situation and give you the best solution you need.

What is Mortgage Calculator?

This mortgage calculator will give you the information you the following information based on the mortgage amount you need:
  • The monthly payment you need to pay for your mortgage.
  • The total monthly payment including other payments, like property tax and maybe condo fee.
  • The amortization chart.
  • The interest portion of the monthly payment.
  • The principal portion of the payment.

What is Mortgage Refinance Calculator?

With this calculator you can find out how much you would be eligible if you refinance your property. Here we calculation 2 different amounts:
  • The low interest rate amount which the total is lower than 80% of your property value.
  • The higher interest amount which is more than the 80% of your property value. in some case it can go up to 100% of your property value

What is Land Transfer Tax Calculator?

Land transfer tax is one of the payments you need to pay when you buy a property. It depends on the city that the property is located and the price of the property.
In Greater Toronto Area the only city which has a different land transfer tax is the city of Toronto.
With this calculator you can calculate the amount of the land transfer tax you need to pay for the property of your interest.

What is Default Insurance Calculator?

When you buy a property and you pay less than 20% down payment then the financial institution need to secure the mortgage you receive and it's called Mortgage Default Insurance.
This amount is very important for you to know, most of the lenders will add this amount to your mortgage but you need to know that it's not an ignorable amount.

What is Affordability Calculator?

When you want to buy a property you need to know if you can afford the payment or not. This is one of the biggest investment in your life so you better see if you can afford the payment or not.
Here you can find out how much your monthly payment would be or how much mortgage you can afford based on your monthly expenses and income.

What is Penalty Calculator?

Mortgage is a contract between you and the lender so like every other contracts it has a life time which is called mortgage term.
If you want to cancel your mortgage sooner than the contract ends you need to pay the penalty. Most people want to cancel their mortgage contracts because they have found a better rate mortgage or they need to refinance to be able to pay off some of their high interest rate loans like the credit card debts.
If you know how much penalty you need to pay to cancel your mortgage, it will help you to see if this process is good for you or not.
This calculator will calculates the amount of the penalty based on the mortgage amount you have, the rate you have and your mortgage term.
Serving Mortgage / Loan Industry in Greater Toronto Area (GTA) - Canada