MORTGAGE CALCULATOR

Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.

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Your mortgage payments over 25 years will add up to $0.
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MORTGAGE HELP


Understanding your mortgage helps you make better buying decisions. Here is a quick breakdown of the key inputs used in the calculator above. Your down payment is the upfront amount you pay toward the purchase price. In Canada, the minimum is 5% for homes under $500,000, with a blended rate for homes between $500,000 and $999,999. Putting down 20% or more avoids mortgage default insurance (CMHC), which reduces your overall borrowing cost.



Your loan term determines how long you have to repay the mortgage. The most common options in Canada are 25-year and 30-year amortizations with 5-year fixed or variable rate terms. A shorter amortization means higher monthly payments but significantly less interest paid over the life of the loan.



Interest rates vary based on your credit score, down payment size, and whether you choose a fixed or variable rate. Fixed rates stay the same for the length of your term, giving you predictable payments. Variable rates fluctuate with the Bank of Canada's overnight rate, which can work in your favour when rates are declining but carries more risk when rates rise. For context on how rate decisions affect your buying power, read how the Bank of Canada's rate changes impact Moncton buyers.



Property taxes in New Brunswick are calculated annually based on your property's assessed value. Rates vary by municipality. Moncton, Dieppe, and Riverview each have different tax rates, which I can walk you through when evaluating specific properties.



Home insurance is required by all Canadian lenders. Premiums vary based on the home's age, location, construction type, and coverage level. Budget $800 to $2,000 annually depending on the property.



Condo fees or HOA fees apply to certain property types and cover shared maintenance, amenities, and reserve funds. These fees vary widely and should be factored into your monthly housing cost when comparing properties.



Want to understand what you can comfortably afford in Greater Moncton?

Download the Buyer's Guide for a full breakdown of the buying process, or book a call to discuss your numbers directly.

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