Mortgage calculator: figure out what you
Calculator | Affordability
Calculator | Full
If you're thinking of buying a home or transferring or refinancing
your existing mortgage, use these handy calculators to:
- Figure out how much you can afford to spend on a home.
- Determine what your mortgage payments will be.
- Compare different ways of paying your mortgage off faster.
- Add lump sum or top-up payments to your mortgage calculation.
- See your amortization schedule (which provides a breakdown
of principal and interest payments for the life of the mortgage)
What is a pre-approved mortgage?
It's a written commitment from a lender that you will get a mortgage
for a set amount at a set interest rate, locked in for 60-120
days, depending on the lender. The commitment is subject to a
financial assessment and property appraisal. This service is always
free and without obligation.
Why do it?
A pre-approved mortgage gives you an edge. Before you even start
house hunting, you'll know how much you can afford, your interest
rate, and your monthly payments. With your financing already mapped
out, you can concentrate on finding the right home in your price
A pre-approved mortgage shows you're a serious buyer. In a situation
where several people are bidding on the home you want, you may
decide to offer the list price and beat out earlier offers.