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Mortgage Calculator

Enter Mortgage Amount: $ 


Interest Rate:    

 %

Amortization Period:    

 years

Enter Desired Payment: $ 



 

To Calculate Monthly Payment:
Enter the dollar amount of the expected mortgage, the interest rate you expect to pay (see below), the amortization period in years, then click "Calculate Payment" to determine the monthly mortgage payment.

To Determine Mortgage Amount:
Enter your maximum or desired monthly housing payment amount, the interest rate you expect to pay (see below), the amortization period in years, and then click "Determine Mortgage Amount" to calculate the amount of the mortgage.


Tips/Suggestions:
To be conservative I would suggest;
  • Presume the "Posted Interest Rate" not the "Best Rate". There may be a reason why either you or the property will not qualify for the best rate/
  • Presume you may have to pay full price. Assuming the seller will accept considerably less than the asking price may lead to dissapointment.
  • Start with a 25 Year Term. Although longer amortization periods and accelerated payment and prepayment options are usually available (and often worth consideration) for comparison purposes it is usually best to start with a traditional 25 year amortization.




         Rates courtesy of:
         Dawn Stephanishin, Invis
         250-503-8788   dawnstephanishin@invis.com
VERNONREALESTATE.COM DEFEO & ASSOCIATES VERNON BC
Defeo and Associates North Okanagan Real Estate
5603 27th Street Vernon, BC V1T 8Z5 Canada
Phone (250) 260-4711 for Friendly, Professional Service