Welcome to Assist 2 Sell Mortgage Calculator

The Mortgage Calculator determines your mortgage payment and provides you with a financial analysis of your mortgage payment. The calculator lets you adjust your interest rate, amortization period, home value and loan value. How to use

Note: As of July 9, 2012, the maximum amortization period for mortgages with less than a 20 percent down payment is 25 years.

Mortgage Calculator

Advanced Mortgage Calculator

Loan Information

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Taxes and Insurance

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Financial Analysis

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Sending

How To Use The Mortgage Calculator

Enter the value of the home, loan amount, interest rate and mortgage period in the boxes below.

You can adjust values to compare your monthly payment based on the options you have so that you can make the best decision for yourself. See examples below:

  • You can adjust the value of the home and compare your monthly payments depending on the value of the home chosen.
  • You can adjust your loan value to compare your savings on monthly payment depending on how much loan you take out.
  • You can adjust your interest rate to compare your savings on monthly payment depending on how high or low your interest rate it is.
  • You can adjust your amortization length to compare your savings on monthly payment depending on how long you take to pay off the property.

 

Input your annual taxes, annual insurance, and annual PMI percentage to generate a total monthly payment that includes monthly principal and interest, monthly insurance, monthly taxes and monthly PMI

 

Are you a first-time home buyer? Or you aren’t familiar with these terms? See our definition of terms here or reach out to our Experienced Realtors here

Definition Of Terms

Home Value:

Market value in real estate is defined as the amount that a current buyer is willing to pay for a property and the amount that a current seller is willing to sell their property for, based on how the subject property compares to other properties that have recently sold in similar conditions as well as overall real estate market conditions.

Loan Amount:

The loan amount refers to how much money you owe on your mortgage at any particular time. Unpaid principal, interest on unpaid principal, defaulted payments, interest on defaulted payments, other charges, and interest on other charges may all be included in the loan amount.

For  a new buy, this is the total amount of money borrowed to buy the property.

Interest Rate:

The interest rate is the amount a lender charges a borrower for the use of assets (money) on top of the principal.

Amortization period (Length): The amortisation period is the time it would take to pay off a mortgage in full if regular payments were made at a fixed interest rate. You will pay more interest if you have a longer amortisation period than if you have a shorter amortisation period.

Annual Taxes:

Annual tax is the amount of real property tax levied on a property for a fiscal year, after deducting any amounts from which the property is exempt or abated under applicable legislation.

Annual Insurance

Mortgage insurance is a type of insurance that protects a lender or titleholder if a borrower misses payments, dies, or is otherwise unable to meet the mortgage’s contractual obligations.

Annual insurance is your premium cost for the year.

Annual PMI

If you have a conventional loan, you may be obliged to pay for private mortgage insurance, generally known as PMI. PMI, like other types of mortgage insurance, protects the lender if you default on your loan.

PMI is a type of insurance offered by private lenders rather than the government. You’ll have to opt for PMI if you don’t want a CMHC-insured loan.

Annual PMI is your PMI cost for the year.

Monthly Principal and Interest:

The principal is the amount you borrowed and must repay, while interest is the fee charged by the lender for giving you money.

Most borrowers’ total monthly payment to their mortgage provider includes items like homeowners insurance and taxes, which may be stored in an escrow account.

See Total Monthly Payment Below.

Monthly Insurance:

Mortgage insurance is a type of insurance that protects a lender or titleholder if a borrower misses payments, dies, or is otherwise unable to meet the mortgage’s contractual obligations.

Monthly insurance is your premium cost for the month.

Monthly Taxes:

Monthly tax is the monthly cost of your annual tax.

Annual tax is the amount of real property tax levied on a property for a fiscal year, after deducting any amounts from which the property is exempt or abated under applicable legislation.

Loan to Value:

The loan-to-value (LTV) ratio is a calculation that compares the amount of your mortgage to the property’s appraised worth. The lower your LTV ratio, the greater your down payment. Lenders may use the LTV to assess whether or not to lend to you and whether or not to obtain private mortgage insurance.

Monthly PMI

If you have a conventional loan, you may be obliged to pay for private mortgage insurance, generally known as PMI. PMI, like other types of mortgage insurance, protects the lender if you default on your loan.

PMI is a type of insurance offered by private lenders rather than the government. You’ll have to opt for PMI if you don’t want a CMHC-insured loan.

Monthly PMI is your PMI cost for the month.

Total Monthly Payment

Your total monthly payment includes monthly principal and interest, monthly insurance, monthly taxes and monthly PMI.