Mortgage Calculator

Purchase Information

Purchase Price

$

Downpayment

$

Results

Total CMHC

$

Total Provincial Sales Tax

$

About Mortgage Insurance

Financial institutions are required by law to insure all mortgages with a loan to value ratio of less than 80%. This insurance protects the lender against borrower default. Note: Provicial Sales Tax (8%) is applicable on mortgage insurance premiums, is due the date of closing, and is not rolled into a mortgage. Mortgage insurance premiums are exempt from the full Harmonized Sales Tax.

Mortgage Insurance Providers

CMHC: Canada Mortgage and Housing Corporation (CMHC) is Canada’s national housing agency. Established as a government-owned corporation in 1946 to address Canada’s post-war housing shortage, the agency has grown into a major national institution. CMHC is Canada’s premier provider of mortgage loan insurance, mortgage-backed securities, housing policy and programs, and housing research. More about CMHC can be found at www.cmhc.ca

Genworth Financial:

GE Mortgage Insurance Canada together, with its related affiliates, is the largest private sector mortgage insurance company in the world and the only private sector supplier of mortgage insurance in Canada. More about GE Mortgage Insurancee Canada at www.genworth.ca

Results Explained

Principal Amount: The amount owed after your downpayment

Monthly Payment: How much you pay per month. Includes Monthly Taxes and Monthly Property Insurance.

Monthly Taxes: Your property taxes paid each month.

Monthly Property Insurance: Insurance paid to your lender each month. This usually occurs if your downpayment is not significant enough.

Disclaimer

All calculations are provided as estimations and are not guaranteed by any party. Douglas Marsh, our partners, employees, and affiliates, are not liable for any errors presented on this website. Please consult with us in person to discuss your mortgage rates.