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Figuring out the kind of mortgage you can afford is one of the most important parts of buying a home. The Hilson Team is your source for mortgage info and mortgage services in Milton, Ontario. The Hilson Team mortgage calculator can help you gather valuable mortgage information to guide your home buying experience.
 
By using the calculator below, you can determine whether or not you will need a loan, an estimate of your mortgage, and whether you should be renting or buying your next home. This information is a crucial part of the home buying process. Knowing your budget and what you want to spend will help you narrow your search and target the homes you can afford.
 
Contact The Hilson Team today to discuss mortgages and your family’s unique home buying needs. The team is happy to answer any of your questions and help you find your next home.   
 


Mortgage Info






Barbara Legere

Barbara Legere
Mortgage Manager
Scotiabank
416 - 434 - 5992

Barbara.legere@scotiabank.com

Creating mortgage solutions to match your home ownership needs.

                                   Fax: 905:873.7558
                                   Web: mdm.scotiabank.com/blegere


Mortgage Calculator


Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.


Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %

 


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