ипотека в канаде калькулятор
Mortgage Payment Calculator Canada
Content last updated: January 7, 2021
Looking to take out a mortgage sometime soon? Know what you’ll be signing up for with our mortgage payment calculator. Understanding how much your mortgage payments will be is an important part of getting a mortgage that you can afford to service long term.
The mortgage payment calculator below estimates your monthly payment and amortization schedule for the life of your mortgage. If you’re purchasing a home, our payment calculator allows you to test down payment and amortization scenarios, and compare variable and fixed mortgage rates. It also calculates your mortgage default insurance premiums and land transfer tax. Advertising Disclosure
Purchase
Renewal or Refinance
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| Provider | Rate | Select |
|---|---|---|
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| Custom rate | Select | |
Why use a mortgage payment calculator?
When planning to buy a home, it’s easy to focus on the headline figures, like the final purchase price or your overall mortgage amount. But in many way, the most relevant number for your mortgage will be your regular repayments. After all, your mortgage payments are the amount that you’ll need to take from your pay cheque each month to keep your mortgage under control.
Using a mortgage payment calculator like the one above takes the guess work out of your mortgage payments. Our calculator lets you understand how much you’ll need to pay each month for any size of mortgage, with any rate. This means you can compare homes and mortgage products with confidence, all the while knowing exactly how much you’ll be on the hook for in each scenario.
How to calculate mortgage payments
Calculating mortgage payments used to be complex, but mortgage payment calculators make it much easier. Our mortgage payment calculator gives you everything you need to test different scenarios, to help you decide what mortgage is right for you. Here’s a little more information on how the calculator works.
The three numbers you’ll need
There are several factors that go into estimating how much your regular mortgage payments will be. These 3 numbers are particularly important:
1. The total mortgage amount: This is the price of your new home, less the down payment, plus mortgage insurance, if applicable.
2. The amortization period: This is the total life of your mortgage, and the number of years the mortgage payments will be spread across.
3. The mortgage rate: This is the rate of interest you pay on your mortgage.
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How to use the mortgage payment calculator
To use the calculator, start by entering the purchase price, then select an amortization period and mortgage rate. The calculator shows the best rates available in your province, but you can also add a different rate. The calculator will now show you what your mortgage payments will be.
By default, the mortgage payment calculator will show four different monthly payments, depending on the size of your down payment. It will automatically calculate the cost of CMHC insurance. You can change the size of your down payment and the payment frequency to see how your regular payment will be affected
Our calculator also shows you what the land transfer tax will be, and approximately how much cash you’ll need for closing costs. You can also use the calculator to estimate your total monthly expenses, see what your payments would be if mortgage rates go up, and show what your outstanding balance will be over time.
If you’re buying a new home, it’s a good idea to use the calculator to determine what you can afford before you start looking at real estate listings. If you’re renewing or refinancing and know the total amount of the mortgage, use the “Renewal or Refinance” tab to estimate mortgage payments without accounting for a down payment.
How to lower your mortgage payments
There are a few ways to lower your monthly mortgage payments. You can reduce the purchase price, make a bigger down payment, extend the amortization period, or find a lower mortgage rate. Use the calculator to see what your payment would be in different scenarios.
Keep in mind that if your down payment is less than 20%, your maximum amortization period is 25 years. As for finding a lower mortgage rate, it’s a good idea to speak to a mortgage broker for assistance.
Frequently Asked Questions
Is your mortgage payment calculator free?
Yes, our mortgage payment calculator is free. In fact, all of our calculators, articles, and rate comparison tables are free. Ratehub.ca earns revenue through advertising and commission, rather than by charging users. We promote the lowest rates in each province offered by brokers, and allow them to reach customers online.
Why does your monthly calculator have four columns?
We think it’s important for you to compare your options side by side. We start the calculator by outlining the four most common options for down payment scenarios, but you are not limited to those options. We also allow you to vary amortization period as well as interest rates, so you’ll know how a variable vs. fixed mortgage rate changes your payment.
How do payments differ by province in Canada?
Most mortgage regulation in Canada is consistent across the provinces. This includes the minimum down payment of 5%, and the maximum amortization period 35 years, for example. However, there are some mortgage rules that vary between provinces. This table summarizes the differences:
| PST on CMHC insurance | Land transfer taxes | Land transfer rebate | |
|---|---|---|---|
| British Columbia | YES | YES | |
| Alberta | |||
| Saskatchewan | YES | ||
| Manitoba | YES | ||
| Ontario | YES | YES | YES |
| Quebec | YES | YES | |
| New Brunswick | YES | ||
| Nova Scotia | YES | ||
| Prince Edward Island | YES | ||
| Newfoundland and Labrador | YES |
What is CMHC Insurance?
CMHC insurance (or mortgage default insurance) protects lenders from mortgages that default. CMHC insurance is mandatory for all mortgages in Canada with down payments of less than 20% (high-ratio mortgages). This is an additional cost to you, and is calculated as a percentage of your total mortgage amount. For more information on mortgage default insurance rates, please read our guide to mortgage default insurance (CMHC insurance).
What is an amortization schedule?
An amortization schedule shows your monthly payments over time and also indicates the portion of each payment paying down your principal vs. interest. The maximum amortization in Canada is 25 years on down payments less than 20%. The maximum amortization period for all mortgages is 35 years.
Though your amortization may be 25 years, your term will be much shorter. With the most common term in Canada being 5 years, your amortization will be up for renewal before your mortgage is paid off, which is why our amortization schedule shows you the balance of your mortgage at the end of your term.
Mortgage Payment Calculator
The TD Mortgage Payment Calculator can help you better understand what your payments may look like when you borrow to buy a home. With a few key details, the tool instantly provides you with an estimated monthly payment amount. You can use it to test different payment scenarios depending on your amortization period, payment frequency or the mortgage amount. Once you know your estimated mortgage payment, you’ll be better able to compare home-buying options.
This is usually the purchase price minus your down payment.
What you should know about your mortgage payments
List of 5 items
- Item 1
How to estimate mortgage payments
The TD Mortgage Payment Calculator uses some key variables to help estimate your mortgage payments:
Mortgage principal amount: This is the purchase price minus your down payment.
Term and Interest rate: Choose a term and interest rate that best suits your needs and your timeline.
Amortization period: Decide on the length of time you will take to repay the mortgage in full.
Payment frequency: Select how often you would like to make payments on your mortgage.
Learn more about mortgage terms that may affect your payments.
Key considerations for your mortgage payments
Buying your home is a big investment so it makes sense to want the best interest rate and lowest mortgage payments possible – after all, saving even a small amount can add up to big savings in the long run. But how does TD determine what those payments will be? Here are some key factors that can affect your mortgage payments:
Location, location, location: The province or region where you buy your home may affect your mortgage interest rate and, therefore, your payments.
The amount you borrow: This is equal to the price of your home minus your down payment plus mortgage default insurance, if you’re putting down less than 20%. The more you borrow, the higher your payments, keeping the same amortization period.
Fixed vs variable interest rates: With a fixed rate mortgage, the interest rate and the payment you make will stay constant for the term of your mortgage, offering stability. With a variable interest rate mortgage, the interest rate will change when the TD Mortgage Prime Rate changes. This means that the portion of your payment that goes toward the principal may rise or fall over the term of your mortgage, which can result in your amortization period getting longer or shorter. If your interest rate increases so that the monthly payment does not cover the interest amount, you may be required to adjust your payments, make a prepayment, or pay off the balance of the mortgage.
How to get approved for a mortgage
Here are some important considerations to keep in mind as you apply for a mortgage:
Do you have loans, like a car payment or student loan? Consider paying off what you can and avoid taking on new loans before you begin the application process.
Understand your finances: Evaluate your total housing payments (eg. don’t forget property taxes and utilities), ideally keeping them at 35% or less of your gross income.
Decide how much you can put down as a down payment. Under Canadian mortgage rules, home buyers with a down payment of less than 20% are subject to mortgage default insurance.
Know your credit score and credit history. These items could impact the principal amount mortgage lenders may approve you for.
What is a Mortgage Payment?
Your mortgage principal is the mortgage amount you borrowed to buy your home minus what you’ve already paid back through monthly or bi-weekly payments. Remember, however, that the full amount of those mortgage payments doesn’t go toward paying down your mortgage principal. That’s because any interest owing is paid first. The good news is, as you continue to make mortgage payments and the principal is reduced, a higher portion of your payments will go toward paying down the mortgage principal.
How to pay off your mortgage faster
Paying off your mortgage may seem like a distant dream at first. The good news is that even small amounts can help you reach that goal sooner. Here are some ways to pay your mortgage down faster and even save on interest costs.
— Take advantage of lump-sum payments. If you can make lump-sum payments on your mortgage, it will reduce the principal balance, reducing the time to pay off your mortgage loan which allows you to save on interest. В№ Note 1
— Take advantage of increased payment options or choose a shorter amortization period. This increases your monthly payments but may reduce the amount of interest you pay over the shortened life of your mortgage. Depending on the type of mortgage, TD customers can increase their payments by up to 100% of their regular payment amount at any time throughout the term of the mortgage. Learn more about our mortgage payment features.
В№ Note 1 Subject to prepayment privilege in your mortgage.
Payment Amount:
My Payment Results
With a pre-approval, you’re ready to let the house hunting begin.
Have additional questions? Speak to a TD Mortgage Specialist now.
Visit a branch at a time that’s convenient for you.
Find a Mortgage Specialist that’s close to you and request a meeting.
Amortization Schedule
Term Schedule
The calculation is based on the accuracy and completeness of the data you have entered. The information is intended for illustrative and general information purposes only, and does not mean that you have been approved for a mortgage loan. Actual payment amounts may differ and will be determined at the time of signing the Mortgage Loan Agreement. The calculator is for residential properties and mortgages. Additional conditions may apply. Calculation assumes constant interest rate throughout amortization period. The interest rate shown is calculated either semi-annually not in advance for fixed interest rate mortgages or monthly not in advance for variable interest rate mortgages. These rates are only available for already built, owner-occupied properties with amortization periods of 25 years or less. Lump-sum payments may be subject to a prepayment charge.
Mortgage Critical Illness and Life Insurance provides life, terminal illness and critical illness coverages underwritten by The Canada Life Assurance Company and accident dismemberment coverage underwritten by TD Life Insurance Company. TD Life Insurance Company is the authorized administrator for this insurance. For more details on insurer and/or administrator, as well as all benefits, exclusion and limitations please refer to the Certificate of Insurance or the Product Summary, Fact Sheet and Certificate of Insurance (Quebec residents). Mortgage Critical Illness and Life Insurance is available on mortgages held with TD Canada Trust. Self-directed RSP mortgages and mortgages on commercial properties are not eligible to be insured.
Provincial sales taxes are added to your premium quote, if applicable. The premium quote is calculated using your age and mortgage balance entered in the tool. Rates are dependent on underwriting, and subject to change at any time without notice.
Ипотека в канаде калькулятор
If you live in Canada and are interested in purchasing a home, you will need to plug in a few numbers in order to determine how much your mortgage payments will be.
Determining A Mortgage Payment for Canadian Buyers
Canada may keep a low profile, but it is one of the wealthiest countries in the world with the eighth-highest per capita income in the world and a high ranking by the Human Development Index for quality of life, government regulation, civil rights and economic freedom. Canada is also home to some beautiful attractions, such as gorgeous mountain ranges, breathtaking waterfalls, sprawling vineyards and more. Some of the largest cities in the world are also in Canada.
With its diverse landscape and culture, as well as its high quality of life, Canada is an attractive destination for investors looking to purchase a vacation home or a rental property. However, U.S. buyers may not be prepared for some of the differences they will find in the Canadian real estate market.
Canadian Mortgages vs United States Mortgages
Outside of a couple hot markets like Vancouver and Toronto, the Canadian housing market has been considered exceptionally stable in recent decades. When Vancouver and Toronto real estate prices dramatically inflated other parts of the country remained quite affordable.
This stability is due in large part to some of the standards that set it apart from the American housing market.
Many Canadian Cities Are Surprisingly Affordable
Mandatory Mortgage Insurance Coverage
More than half of all borrowers carry some kind of mortgage insurance (as opposed to about 30 percent of U.S. homeowners), and they carry it for the full life of the loan. The insurance isn’t canceled once equity accrues, like with private mortgage insurance in the United States, which is typically canceled once the loan value drops below 80 percent of the value of the home. Therefore, lenders are protected in case the borrower defaults.
Make Sure You Can Afford Your Loan Payments!
Perhaps one reason why so many homeowners carry mortgage insurance is that they are fully responsible for the loan, even if they default. Even if homes are foreclosed, lenders may still come after borrowers for their assets or even to garnish their wages to satisfy the debt. CMHC mortgage insurance is required for all loans with less than 20% downpayment. Loans which require insurance can only be insured for up to a 25-year amortization schedule.
| Down Payment | CMHC Mortgage Insurance Fees |
|---|---|
| 5% to 9.99% | 4% of loan |
| 10% to 14.99% | 3.1% of loan |
| 15% to 19.99% | 2.8% of loan |
| 20% + | not required |
On July 1st, 2020 the CMHC coverage policies added the following requirements:
Hybrid Adjustable Mortgage Rates
The way loans are structured differs, as well. Most Canadian mortgages are issued for a fixed rate for five years. After that term, the loan is re-negotiated for another five years, with loans typically using a 25-year amortization schedule. In the United States home-buyers can obtain fixed-rate loans where rates are locked for the entire 30-year term.
Interest & Capital Gains
In Canada mortgage interest is compounded semi-annually, rather than once a month, and it is charged at the end of the month, not the beginning.
Mortgage interest is not tax-deductible, but homeowners also don’t have to pay taxes on capital gains when they sell their homes. Anyone who tries to pre-pay their mortgage will have to pay a stiff penalty.
Down Payment Requirements
In Canada home buyers are required to put down a minimum downpayment on a home purchase. The minimum amount depends on the price of the home, with a higher percent down required on more expensive homes. The following table shows qualification requirements:
Any mortgage with a term beyond 25 years can not be insured, thus longer duration loans require a 20% down payment.
Canadian Mortgage Affordability: Understanding GDS & TDS
American Mortgage Affordability: DTI Ratios
In the United States there are concepts called the front-end debt ratio and back-end debt ratio which compare the homebuyer’s income against their monthly housing expenses and their total debt service expenses.
Front-End Ratio: this figure compares your housing cost to your total monthly income. It covers mortgage principal & interest payments, property taxes, PMI, homeowner’s insurance & HOA. These costs are often called PITI.
Back-End Ratio: this figures everything included in your front-end ratio as well as your other monthly payments servicing your mandatory debt obligations.
Canadian Mortage Affordability
In Canada there are similar concepts to DTI where the Canada Mortage and Housing Corporation (CMHC) sets limits to protect homeowners from loans they are unlikely to afford paying. They ensure that both the housing and total cost of managing all debts with housing payments do not exceed practical levels.
What is Gross Debt Service Ratio?
GDS is similar to the front-end ratio in the U.S. except it also includes your heating expenses and the condo dues (which are similar to HOA fees in the US) only count at 50%. In Canada the inclusion of heating expenses changes the accronym PITI to PITH. Add up those housing expenses and divide those by your monthly pre-tax income. A GDS of 32% or below is considered good. The GDS formula is published below.
GDS = 100 * (P + I + H + (C/2)) / I
What is Total Debt Service Ratio?
TDS includes your GDS along with your other monthly debt payments including credit cards, auto loans, and other loan expenses. A TDS of 40% or below is considered good. The TDS formula is published below.
What are the GDS & TDS Limits?
Industry sandards for GDS and TDS are 32% & 40%. CMHC itself will not insure above 35%/42%.
Are the GDS & TDS Limits Hard Limits?
While industry sandards for GDS and TDS are 32% & 40%, these are not hard limits. Borrowers with great credit score can exceed the GDS/TDS limits stated by CMHC up to 39%/44% and still get insured by GenWorth Financial or Canada Guarantee. CMHC itself will not insure above 35%/42%.
Calculating Monthly Costs
Since mortgage interest is compounded differently, your payments will not be the same as they would for the same loan terms in the United States. In most cases, you will actually pay slightly less due to interest compounding only twice annually.
By using the above calculator, you can determine your financial obligations for buying a home in Canada so that you can make the right financial plan to meet your personal investing goals.
Homeowners May Want to Refinance While Rates Are Low
The Federal Reserve has hinted they are likely to taper their bond buying program later this year. Lock in today’s low rates and save on your loan.
Are you paying too much for your mortgage?
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Ипотека в Канаде в 2020: как она работает, условия и процентные ставки
Все об ипотеке в Канаде
Как работает ипотека в Канаде? Могу ли я получить ипотеку?
В нашей статье мы поговорим о том, как работает ипотека в Канаде, а также ответим на часто задаваемые вопросы.
Как работает ипотека при покупке недвижимости в Канаде
Пошаговое руководство по ипотеке в Канаде
1. Вам нужно внести первоначальный взнос
Существует 3 основных источника средств для первоначального взноса:
Все кредиты с первоначальным взносом меньше 20% называются High Ratio (high – высокий ratio – коэффициент), что дословно можно перевести как «кредит с высоким коэффициентом заемных средств». Такие кредиты на ипотеку, по канадскому законодательству, должны быть застрахованы в одной из трёх страховых компаний. О них поговорим позже. Страховой взнос варьируется от 0,60% до 4,50% от суммы ипотеки, но не переживайте, вам не придётся искать дополнительные 4.50% на оплату страховки. Страховой взнос будет добавлен к основному долгу по кредиту и разбит на весь срок амортизации кредита. Данная страховка защищает канадского кредитора (банк) от неуплаты по кредиту.
2. Предварительное одобрение ипотечного кредита (Pre-Approval)
Получение предварительного одобрения является важным (но не обязательным) этапом процесса покупки жилья. Предварительный расчет дает вам более четкое представление о вашей покупательной способности и помогает вам сформировать реалистичный бюджет, который вы можете себе позволить в долгосрочной перспективе.
Как только ипотека будет предварительно одобрена, вы также можете зафиксировать определенную процентную ставку на ограниченный период времени (как правило до 120 дней). Пожалуйста, поинтересуйтесь у вашего специалиста по ипотечным кредитам о том какие документы необходимы для предварительного одобрения кредита.
3. Решите, какой тип канадской ипотеки вам подходит: открытый или закрытый?
Разница между этими видами заключается в возможности досрочного погашения. Например закрытый тип ипотеки подразумевает контракт с банком на определённый срок (обычно 3-5 лет) при разрыве которого вам придётся заплатить штраф за досрочное расторжение. Штрафы зависят как от продукта так и от размера кредита и могут колебаться от нескольких сотен долларов до десятков тысяч.
В то же время открытый тип ипотеки позволяет выплатить всю сумму кредита в любой момент, без каких-либо штрафов. Проценты по такому кредиту выше, чем по закрытой ипотеке. Если вы не планируете ежегодно дополнительно выплачивать более 20% от первоначальной суммы кредита – то не стоит переплачивать за открытый тип кредита.
Одним из наиболее известных видов открытого типа ипотеки является Home Equity Line of Credit, или Кредитная Линия под Залог Недвижимости. Такой кредитной линией можно пользоваться как самой обычной кредитной картой, оплачивать только процент или погашать весь долг сразу. Как правило Home Equity Line of Credit составляет один из компонентов ипотечного кредита, тогда как основная сумма зафиксирована под закрытый тип.
4. Каков максимальный срок выплаты ипотеки в Канаде?
Если ваш первоначальный взнос составляет менее 20%, то максимальный амортизационный срок составляет 25 лет. Если же первоначальный взнос более 20%, то можно растянуть выплаты по ипотеке на 30 лет.
5. Канадские ставки по ипотеке: фиксированная процентная ставка (fixed) и плавающая процентная ставка (variable)
Фиксированные процентные ставки не изменяются в течение всего срока кредита. Чаще они выше, чем плавающие ставки, но они дают гарантию неизменного платежа на протяжении всего срока ипотеки (обычно 3-5 лет).
Некоторые кредиторы предлагают гибридные или комбинированные ипотечные кредиты. В этих типах ипотечных кредитов часть вашей ипотеки защищена от колебаний рыночных ставок (как и в случае ипотеки с фиксированной ставкой).
Какую ставку выбрать?
Правильного ответа здесь не существует, т.к. у каждого типа ставок есть свои плюсы и минусы. Давайте разберемся.
Фиксированная процентная ставка (fixed)
Плавающая процентная ставка (variable)
Популярные вопросы по ипотеке в Канаде
Каковы процентные ставки по ипотеке в Канаде?
Точного ответа на данный вопрос нет, т.к. процентные ставки по ипотеке в Канаде зависят от очень многих факторов и каждый банк и кредитор предоставляет разные кредитные продукты. Но чтобы вы имели хоть какое-то представление, начиная с 2009 года, процентная ставка на ипотеку в Канаде находилась в диапазоне 2.5%-5.5%.
Какова периодичность выплат по ипотечным кредитам?
Вы сможете выбрать, как часто вы будете осуществлять ипотечные платежи. Возможные варианты включают:
Что делает ипотечный брокер, и нужно ли к нему обращаться?
В Канаде ипотечный кредит можно получить двумя способами:
Разница между двумя опциями в том, что банк ограничен в выборе ипотечного продукта, в то время как ипотечный брокер работает сразу с несколькими банками и кредитными организациями. Услуги ипотечного брокера бесплатны.
Ваш ипотечный брокер поможет вам выбрать вариант кредитования, который наилучшим образом будет соответствовать вашим потребностям. Он будет рядом с вами на каждом этапе процесса покупки жилья и сможет помочь вам получить предварительное одобрение ипотеки уже на самой первой встрече.
Что такое CMHC, Genworth Financial и Canada Guarantee?
Как уже обсуждали выше, если первоначальный взнос составляет менее 20% от стоимости дома, то в ваш кредит будет добавлена страховка ипотечного кредита. Эта страховка защищает банк в случае дефолта по кредиту. Страхование осуществляется одной из признанных страховых компаний:
Canada Mortgage and Housing Corporation (CMHC) является канадским органом по жилищному и ипотечному страхованию.
Genworth Financial Canada — крупнейшая в Канаде частная ипотечная страховая компания.
Canada Guaranty – самая молодая, но тем не менее не уступающая другим, частная страховая компания.
Причины, по которым ваша заявка на ипотеку в Канаде может быть отклонена
Случается и так, что вас запрос на ипотеку могут отклонить. Как правило, это происходит по следующим причинам:
1. Плохая кредитная история в Канаде
Причиной плохой кредитной истории могут быть просроченные платежи по кредитам, записи от коллекторских агентств, банкротство и судебные иски по неуплаченным кредитным обязательствам.
Бывает так, что кредитной истории нет вообще.
Для новых иммигрантов, приехавших в Канаду в течение 5 последних лет, существуют ослабленные требования к кредитной истории и кредитному рейтингу. По истечении пяти лет с момента приезда считается, что у человека было достаточно времени чтобы построить кредитную историю, по этому, если у вас до сих пор нет кредитной карты зарегистрированной на ваше имя – срочно откройте. Без кредитных карт не будет кредитной истории.
2. Соотношение собственных и заёмных средств банка
Если на момент подачи заявки, у вас есть другие большие кредиты то банк может посчитать ваш доход недостаточным.
3. Отсутствие подтверждения дохода
Если вы заполнили одни данные по доходу, но не смогли их официально подтвердить, то вам также откажут в ипотеке. Банки и кредиторы затребуют максимально много информации: ваши зарплатные отчеты, выписка с банка и пр.
4. Неопытный ипотечный брокер или кредитный специалист
Бывает и так, что вам просто попался неопытный ипотечный брокер, который не может решить ваш вопрос.