image

Your Friend In The Mortgage Business

Jay Sharma
Agent # M08000472
Dir: 905 483-1449
Fax: 1-877-464-9961
Email: jay@mortgagegrp.com

@justaskj1

TMG FISCO#10315

Unit 8-70 Yorkville Ave

Toronto, ON M5R 1B9

 

The Mortgage Group TMG - LinkedIn The Mortgage Group TMG - Facebook The Mortgage Group TMG - Twitter

The Mortgage Group TMG - Todays Rates Today's Rates
2.89% 1 Year
2.99% 3 Year
3.09% 5 Year
3.74% 10 Year

The Mortgage Group TMG - News & Rate Advisor News & Rate Advisor
To sign up for our monthly news letter, please fill in the fields below.

First Name

Last Name

Email
Email

 

 

First Time Homebuyer!

Buying a home is one of the biggest financial and lifestyle decisions you will make, so it pays to make an informed decision by first looking at the main disadvantages and advantages of Homeownership

image

 


Save on Your Mortgage

Paying off your mortgage faster has the excellent benefit of reducing the amount of interest that you pay on your mortgage. How? By using privileges provided by the lender.

image

 



Canadian Mortgage Calculator


Calculate mortgage payments, amortization schedules, and interest rates.

Use the three "what if" scenarios to analyze Canadian mortgage options and see how a change in interest rates affect your mortgage payments, how an increase in payments affects your amortization period and so on. 


Tips on using the mortgage calculator.

Calculating a simple Canadian mortgage payment is relatively straight forward but here are some calculations you might not be aware of.

Fill in the following fields: loan amount, compound period (leave this at semi-annual which is the compounding used for Canadian mortgages), mortgage amortization period in months, mortgage term in periods(months) and the mortgage payment.  Click "calculate"

You can manipulate the outstanding balance of a mortgage with the "term".  Simply choose the number of months for your outstanding mortgage balance and your done.  ie, 60 months would equate to the outstanding balance after 5 years, assuming that your using monthly payment frequency.  If your using annual payment frequency, you would use 5 instead of 60 and so on.

You might also be noticing that when you use the mortgage term to manipulate the outstanding balance, the mortgage interest and mortgage principal also change.  It's a great way to see the amount of principal or interest paid to a certain point.

To calculate an amortization schedule do the following: calculate a mortgage payment, choose the amortization "start" month, the start date (amortization from) and then choose the year you want to start with (output from) and the year you want the amortization schedule to finish on (output to).  Then click "calculate".

The  mortgage calculator is described as being Canadian, and by default, it will calculate a Canadian mortgage, however it also has the ability to calculate US mortgages. To calculate a US mortgage payment, simply change the compound period from semi-annual to monthly. That's the only difference between a mortgage in Canada and a mortgage in the US.

We hope you find the mortgage calculator useful...

  1. Canadian mortgage interest rate:

  2. Calculate the outstanding balance of a Canadian mortgage:

  3. Calculating a Canadian amortization schedule:

Do you know what your GDS and TDS are?
GDS and TDS definition and calculator.

Home Apply Now Calculator Client Login Privacy Security Contact FAQ Links to Us Local Pros Stats About Legal Lenders Site Map

Copyright 2019 The Mortgage Group TMG All Rights Reserved.
*some restrictions may apply

Powered by GoMAX Solutions.