Monday, April 25, 2011

Mortgage Payment Calculator

With CMHC Mortgage Loan Insurance you could become a homeowner sooner. CMHC Mortgage Loan Insurance offers housing financesolutions that can help you buy a home with as little as five percent down payment, at interest rates comparable to those available with a larger down payment. To help you estimate your monthly mortgage payments, use CMHC’s mortgage calculator chart.

Your approximate monthly principal and interest payment, per $1,000 of Mortgage Loan, is*:
Amortization Period
Interest Rate**   10 years       15 years    20 years      25 years     30 years
2                            $9.20           $6.43         $5.05          $4.23          $3.69
2.25                       $9.31           $6.55         $5.17          $4.36          $3.82
2.5                         $9.42           $6.66         $5.29          $4.48          $3.94
2.75                       $9.53           $6.78         $5.41          $4.61          $4.07
3                            $9.65           $6.90         $5.54          $4.73          $4.21
3.25                       $9.76           $7.02         $5.66          $4.86          $4.34
3.5                         $9.88           $7.14         $5.79          $4.99          $4.48
3.75                       $9.99           $7.26         $5.91          $5.13          $4.61
4                            $10.11         $7.38         $6.04          $5.26          $4.76
4.25                       $10.23         $7.50         $6.17          $5.40          $4.90
4.5                         $10.34         $7.63         $6.30          $5.53          $5.04
4.75                       $10.46         $7.75         $6.44          $5.67          $5.19
5                            $10.58         $7.88         $6.57          $5.82          $5.34
** Assumes constant interest rate throughout amortization period.
*The CMHC Mortgage Payment Calculator is for general illustrative purposes only. Actual payment amount should be obtained from your lender. Neither CMHC nor any of its advisors shall have any liability for the accuracy of calculations.

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