A guide to mortgage calculators Jan 23rd

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A guide to mortgage calculators

– moneysense.ca

Owning a home can be a powerful wealth-building tool, but it can also be expensive when you account for the mortgage payment, property taxes, insurance, utilities and maintenance.

To get a clear picture of how a home purchase impacts your finances, you’ll need to determine what purchase price you can afford and how it affects your housing costs. Fortunately, mortgage calculators let you model this information, helping you make sound financial decisions about what will likely be the most important purchase of your lifetime.

You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quoteI’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense. Just close the tab to return.

Why should you use a mortgage calculator?

You wouldn’t buy a car without knowing what the monthly payment is, and you shouldn’t buy a home without an accurate idea of how it will impact your finances, either.

Owning a home involves more than a monthly mortgage payment, and mortgage calculators can help you figure out these extra costs, such as property and land transfer tax, insurance and utilities…

Continue Reading On moneysense.ca »

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