This is a simple calculator for mortgage payment
based on the purchasing price of the property, length and interest rate
of the mortgage, and the amount of down payment. The payment is calculated
for down payment of 5%, 10%, 15% and 20% of the purchasing prices respectively.
To use this calculator, please input the
value of the property you intended to purchase (mostly it is the purchase
price), the length of mortgage in years, and the annual mortgage rate
(please enter a rate between 2% and 20%). Then press "Calculate". The
results are rounded to the nearest dollar.
For more information of mortgages, visit
Mortgage Action Centre