This section provides mortgage calculators. When it comes to mortgage payment calculations, home buyers have a lot of questions. such as: 

• ·      How much down payment I need?
• ·      How much would be my mortgage payment?
• ·      How much are closing costs?

Homebuyers often ask what amount of downpayment they need 5%, 10%, 15%, 20%, or some other amount. The amount of downpayment is dependent on many factors that are different and unique for each individual.

A mortgage payment can be weekly, bi-weekly or monthly. It can vary based on amortization period and interest rate. 

Closing costs are one time expenses a homebuyer has to pay at the time of purchase. They can be approximately 1% to 2% of property value. They will include land transfer tax, lawyers fees, and other incidental costs.  

The following calculators are useful to calculate all those numbers from the convenience of your laptop, tablet, or mobile. You can play around with numbers to see how it will impact your payment. How much cash you would need for closing the deal, and a convenient amortization table of the potential loan.

GDSR /TDSR?

Most lenders use two ratios to assess each client for mortgage suitability. Lenders used GDSR and TDSR rations to approve a mortgage to a client. 

Each bank has different threshold limits for GDSR and TDSR based on the client’s credit score and Loan to Value ratio (LTV). A mortgage agent knows each lender’s criteria and can package the deal accordingly.  

There is a lot to figure out, but you don’t have to sweat on all these calculations. I will do all that work for you.