Mortgage Calculators

Calculators

We have available several calculators online to help you.

If you require assistance or wish to speak with a mortgage consultant click here.
These calculators have been prepared for Canadian mortgages and their standard terms. Many people are not aware of it, but there are significant differences in the calculations and rules of borrowing for Canadian and American mortgages. To find out more contact us today.

Other Calculators

Ontario Land Transfer Tax for homes bought in Toronto, Ontario you may have special considerations if you have bought a new home as a first time buyer. While we are experts at Toronto Capital mortgages, a lawyer can best advise you how a builder may have treated a land transfer tax refund (if applicable to you).

Information:

A mortgage is a loan that uses a property as security to ensure that the debt is repaid. The borrower is referred to as the mortgagor, the lender as the mortgagee. The actual loan amount is referred to as the principal, and the mortgagor is expected to repay that principal, along with interest, over the repayment period (amortization) of the mortgage.

A mortgage can be used for financing many different things, including:

Purchasing or constructing a new home
Purchasing an existing home
Refinancing to consolidate debts
Financing a renovation
Financing the purchase of other investments
Financing the purchase of investment property

Since a mortgage is a fully secured form of financing, the interest you pay is usually less than with most other types of financing. Many people use the equity in their homes to finance the purchase of investments. Using a Secured Line of Credit, or a fixed-rate mortgage, the interest costs are lower.