	Mortgage Pre-approval

	Mortgage Basics

	Mortgage Calculator

"We spent about an hour with 3 different agents. We picked the Morris team because of their combination of enthusiasm and technical skills. We were also impressed by their community support."

- Barry and Marg McKee, Home Sellers

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Mortgage Calculator

Use these quick and easy tools to calculate mortgage payments
and estimate what you can afford in monthly housing costs.
Enter your relevant information in the appropriate boxes - Results will be calculated automatically and displayed below.

Calculate Your Mortgage Payments



Loan amount:	$
Annual Interest rate:	%
Amortization Period:	years
Payment frequency:

Your payment:	$ (Principal & Interest Only) High Ratio mortgages (less than 20% down payment) usually incur a mortgage loan insurance fee. To learn more please visit www.cmhc.ca.


How much can I afford?


Gross Debt Service Ratio GDS

Monthly mortgage payment:	$ (including interest)
Monthly property taxes:	$
Monthly heating costs:	$
Monthly condo fees (if applicable):	$

Total monthly gross income:	$
Result:	%
	Your total monthly housing costs should not exceed 32% of your gross monthly family income.



Total Debt Service Ratio (TDS) Add your other monthly payments

Personal loans or lines of credit:	$
Credit cards:	$
Car loans or leases:	$
Other loans:	$
Other regular payments:	$

Total Monthly Housing Costs:	$ (as determined above)
Result:	%
	Your total monthly debt load should not exceed 40% of your monthly gross family income.