BTGroup.ca - Your Gateway to Edmonton Real Estate Because Your Move Matters!!!
Aaron and Jason Beattie

How Much Can You Afford?


 

Mortgages are so much more than a great rate.  Did you know that with no extra effort you can structure your mortgage to be paid off quicker or even able to have it pay itself off?  What a concept.  Wouldn't it be great to have your home pay you a few extra thousand a year.  It is possible.

Click Here and fill out the application and Collin will call you and explain how this is possible along with many other options that you may have never considered.  It literally could pay to talk to the right person.

 

Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs.  To email yourself a copy of the results, click the Receive this Detailed Analysis link.

The bottom of the page contains some definitions of terms frequently used.


Our calculators will help you determine loan amounts, mortgage
qualification, affordability or whether you should be renting or buying.

All Rates and terms below have been provided by Shelley Robertson, Mortgage Specialist with Bank of Montreal.  If you would like more information on this information or would like to receive a rate guarantee on this rate call Shelley now at 780.952.3482 or send her a note by clicking here and she has committed to contacting you within a few minutes with answers to your questions.

 
Required
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
0.43%of Cost
Annual Property Tax:  $  
1.2%of Cost
Monthly Income:  $
Monthly Debt:  $
Optional
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $

Results
  Receive this Detailed Analysis


Your Monthly Payments
 
Loan Amount:    
Loan Insurance ( %):
Total Loan(Mortgage) Amount:
 
Principal & Interest:    
Homeowners Insurance:    
Property Taxes:    
Condo Fees:    
Monthly Loan Insurance (%):    
Total Monthly Payment:    
 
Income Needed to Qualify for the Mortgage
 
Total Monthly Loan Payment:  
Total Monthly Debt Payment:  
Monthly Loan Insurance (%):  
Qualifying Income of % GDS Ratio:  
Qualifying Income of % TDS Ratio:  
 
What You Can Afford
We are using the % ratio.
Cost of House:  
Down Payment:  
Loan Value:  
Monthly Principal & Interest:  
Monthly Insurance:  
Monthly Property Tax:  
Monthly Condo Fees:  
 
Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)
Monthly Rent: $
  No. of Years you plan on keeping the home:
Annual Rental Increases:   %   Yearly Appreciation on the Home: %
Monthly Renter Insurance: $   Annual Home Maintenance: %
Savings or Investment Rate:   %  


Mortgage Terms


Mortgage amount
Original or expected balance for your mortgage.

Interest rate
Annual interest rate for this mortgage.

Term in years
The number of years over which you will repay this loan. The most common mortgage term is 25 years but we now see terms as high as 35 years.  This can be very beneficial in the right situation.  Ask us how.

Monthly payment
Monthly principal and interest payment (PI).

Total payments
Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.

Total interest
Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.

Prepayment type
The frequency of prepayment. This will vary based on the mortgage.  A very important piece of information to know on your new mortgage.

Prepayment amount
Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.

FREE Market Report For Your Neighbourhood



Home  |  Featured Listings  |  Moving Phone Numbers  |  1st To Know  |  Home Evaluation  |  The Perfect Mortgage  |  Buying  |  Selling   |  First Time Home Buyer  |  Home Improvement  |  Search MLS Listings  |  My Glen Allan
Contact Me
 

Privacy Policy  |  Site Map  |  Links  |  For Agents  |  Profile  |  Sign In

©2007-2012 Professional Realty Group