If you’re thinking about refinancing your mortgage, one of the first things you’ll need to do is figure out how much you can afford. That’s where a mortgage calculator comes in.
A mortgage calculator is a simple tool that can help you estimate your monthly mortgage payments. You need to input some basic information about your mortgage, and the calculator will do the rest.
The calculation is based on the accuracy and completeness of the data you have entered. The information is intended for illustrative and general information purposes only and does not mean that you have been approved for a mortgage loan. Actual payment amounts may differ and will be determined at the time of signing the Mortgage Loan Agreement.
The calculator is for residential properties and mortgages. Additional conditions may apply. The calculation assumes a constant interest rate throughout the amortization period. The interest rate shown is calculated either semi-annually not in advance for fixed interest rate mortgages or monthly not in advance for variable interest rate mortgages. These rates are only available for already built, owner-occupied properties with amortization periods of 50 years or less. Lump-sum payments may be subject to a prepayment charge.