The mortgage payment calculator below is provided as a courtesy to those who appreciate an objective source, independent from would-be lenders.
The Canada Mortgage and Housing Corporation (CMHC) is best known as the federal crown corporation responsible for providing mortgage loan insurance to financial institutions.
If you need to borrow to finance the purchase of property - whether residential, commercial, or a business - you should educate yourself as to different lenders' approaches to lending, and the mortgage 'products' available to you.
In addition to taking your income and monthly obligations into consideration, potential lenders will take weigh the relative benefits and risks of your employment, credit history, and tenancy/ownership status as factors in deciding the mortgage options and rate you're offered.
Contact your financier for more information, or feel free to ask us for mortgage specialist/broker references.