Alberta Mortgages – Alberta Mortgage Payment Calculator, mortgage qualification calculator.#Mortgage #qualification #calculator

Canadian Mortgage Calculators

Mortgage qualification calculator

Alberta Equity’s Mortgage Calculator breaks down the entire amortization of your mortgage and calculates a payment schedule as well as summaries of interest, balances and payments. We’ve already entered Canada’s best rates, but if you prefer, you may enter your own interest rates by using the Customize button.

We also have a simpler Flash Mortgage Calculator that provides a visual way to compare and find the best mortgage products. Or if you’re not sure how much you can afford, try our qualification calculator.

Mortgage Summary

  • You will have 300 payments of $1,023.16 a month for 25 years to payout a $220,000 loan with a rate of 2.84%.
  • Mortgage balance remaining at end of term is $187,462.77.
  • By switching your payment schedule from monthly to weekly or biweekly you are able to shorten the mortgage amortization period and save a substantial amount on interest payments.

Calculation Results

Amortization and Payment Summary

The amortization of a mortgage refers to the total number of years required to pay back the entire amount borrowed. While the most common amortization period is 25 years, you can accelerate it to a shorter period of time in order to save on interest charges.

Monthly Payment and Amortization Table

Below is a breakdown of your payments each month including your accumulated payments and mortgage balance.

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AlbertaEquity.com is managed by Super Brokers Incorporated, a division of TMG The Mortgage Group. Our goal is to help you find the best mortgage rates (OAC) and lenders in and around Calgary, Edmonton, Lethbridge, Medicine Hat and Red Deer. Super Brokers is a proud member of the Better Business Bureau of Southern Alberta. Our mortgage application is secured by Equifax SSL from GeoTrust. Although every attempt is made to ensure accuracy, the information contained here should only be used as a guideline. Please speak to one of our mortgage brokers if you would like more information about our services. For questions or comments about our website, security practices or policies, call our web support line at 1-866-530-5541. To speak with a mortgage broker, call toll free 1-800-604-1864

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