If you’ve acquired a property or looking to acquire a property, chances are you will be borrowing money from the bank to help fund your purchase. The bank will lend you this money in the form of a mortgage product. There are MANY mortgage products out there, enough to make your head spin!
It is important to connect with a mortgage specialist at a bank or a mortgage broker. If you can speak to a mortgage professional BEFORE you even look for a property, that’s even better as this will make your life a lot easier for the entire house hunting process. Your property search will run a lot smoother if you know your absolute top line limit in terms of how much you can afford. If you need help with making a connection with a good mortgage professional, let us know and we’ll put you in touch with our trusted contacts.
Broadly, your monthly mortgage amount is based on a number of factors including purchase price, down payment, amortization period, mortgage rate, etc. Fill in the fields in the calculator below to help you give you an idea of how much you will be paying in mortgage payments on a monthly basis.