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Angela Zhang, CFP
Principal Broker / Owner

AZ Mortgage Solutions Lic.# 12145
Mississauga, Milton, GTA West

 

Office: (905) 206-2888
   

Angela@azmortgagesolutions.ca

The Mortgage Centre
each mortgage centre office is independently owned and operated

AZ Mortgage Solutions  - Facebook office@azmortgagesolutions.caCMP Top 75 Brokers 2016

                    
AZ Mortgage Solutions  - Todays Rates Today's Rates
2.4% Variable Rate
2.99% 1 Year
3.24% 2 Year
3.09% 3 Year
3.39% 4 Year
3.24% 5 Year

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Home Purchase

Buying a home can be scary.  Do not worry!  To help you feel prepared and informed, here are some of the steps involved in buying a house. We will do everything we can to make things proceed smoothly, quickly and effortlessly.

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STOP...Don't sign that mortgage renewal form before you talk to us. Renewal is the perfect time to re negotiate the term and the rate, without penalties or costs...

 

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  Mortgage Calculator


Calculate mortgage payments, amortization schedules, and interest rates.

Use the three "what if" scenarios to analyze mortgage options and see how a change in interest rates affect your mortgage payments, how an increase in payments affects your amortization period and so on. 


Tips on using the mortgage calculator.


Calculating a simple mortgage payment is relatively straight forward but here are some calculations you might not be aware of.

Fill in the following fields: loan amount, compound period (leave this at semi-annual which is the compounding used for Canadian mortgages), mortgage amortization period in months, mortgage term in periods(months) and the mortgage payment.  Click "calculate"

You can manipulate the outstanding balance of a mortgage with the "term".  Simply choose the number of months for your outstanding mortgage balance and your done.  ie, 60 months would equate to the outstanding balance after 5 years, assuming that your using monthly payment frequency.  If your using annual payment frequency, you would use 5 instead of 60 and so on.

You might also be noticing that when you use the mortgage term to manipulate the outstanding balance, the mortgage interest and mortgage principal also change.  It's a great way to see the amount of principal or interest paid to a certain point.

To calculate an amortization schedule do the following: calculate a mortgage payment, choose the amortization "start" month, the start date (amortization from) and then choose the year you want to start with (output from) and the year you want the amortization schedule to finish on (output to).  Then click "calculate".

We hope you find the mortgage calculator useful... 

Do you know how the banks qualify you for a mortgage?
GDS and TDS definition and calculator.


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