We've added more transparency to the mortgage calculator so that you can not only see what your monthly payments are but also how much interest payments will be. Compare features, such as frequency and amortization length to see what you can afford and how much you can save.
MONTHLY MORTGAGE PAYMENT
5 year term
25 Year Amortization
* These calculations are just an estimate. To get a true overview of your affordability, apply online in 5 minutes and a Homewise Advisor can overview your full financial picture.
A down payment is the amount of money that a home buyer is paying towards the purchase price of a home. For example, if you are buying a home for $800,000 and you have saved $160,000 to put towards the purchase price, the $160,000 is your down payment. Important: your down payment should not take up all of the money you have allocated to your home purchase, there are other closing costs (land transfer fee, real estate lawyer, etc) that you will need to account for. To lean more about closing costs, click here.📚 Learn More
Whether you have already purchased or are looking to buy soon, being prepared is very important and will save you money. With so much to look forward to, it is important that you make the proper financial decisions during the mortgage process, as it could be one of the largest financial decisions you make in your life. This Mortgage 101 post will help you understand some of the basics to start your learning process on your way to a great mortgage. You can also view more posts here, or reach out to our team at any time with questions using our contact info.📚 Learn More
The process of getting a mortgage can feel overwhelming simply because many people aren’t familiar with all of the moving parts involved. Oftentimes, the majority of people go straight to their family’s bank without considering key factors like mortgage features, privileges and penalties — all of which affect your mortgage payment and what your financial future will look like.📚 Learn More
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Mortgage Brokerage Licensed in ON #12984, BC #X301004, MB and AB.
Homewise can pursue mortgage brokering activity in SK, NL, NS and NB. We are proudly Canadian!