How can a Mortgage Payment Calculator help you?


The Canada mortgage calculator helps in calculating your mortgage payments. There are many online platforms that let you calculate your monthly payments. To find the best free mortgage calculator in Canada, you must visit the official website of RateShop.ca.
Our calculator was built using several years of experience in the mortgage industry. Our calculator shows you exactly how much your mortgage payments would be for up to 4 different mortgage scenarios at once! 



  • Calculate your Monthly Payments with our Calculator

The calculator has been built to include everything to give you the nearest estimate of your monthly payments. It includes amortization, mortgage rate, your down payment, required mortgage default insurance, and even land transfer tax (including rebates where applicable). And the best part is that you can make your choice out of the best mortgage rates available on our website and find out what your payments would be.  

  • The Parts of your Mortgage

For first-time homebuyers, mortgage terms can be confusing. However, once you start learning about it, it won’t be that difficult to understand everything. But make sure that you get an understanding of everything before using a mortgage payment calculator.

  • Amortization Period

The amortization period is the time you will need to pay off your mortgage in full. In Canada, the normal amortization period is 25 years. According to this, you will have to pay off 1/25th of your mortgage every year. Remember, it is entirely different from building equity that is the difference between your home’s worth and the amount of mortgage left to be paid.

It is noteworthy that the mortgage payments go more towards interest than principal in the earlier years. And if you pay the same amount every year, you can start building equity slowly.

Visit our official website and use our free Canada mortgage calculator in Canada without any hassle and make your calculations easily.
Location: Ontario, Canada

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