Amorgages.ca is a place to go when you need to know about How to Apply for a Mortgage and other Mortgages topics.
Before you apply for any mortgage, your first stop should be to one of the many mortgage calculators available online. You might think of mortgage calculators as a great way to anticipate your monthly payment, but these nifty tools also help you understand the actual amount of interest you’ll be paying over the term of your mortgage. They also increase your understanding of whether or not you can actually afford to borrow the amount you may be considering.
One of the best ways to really comprehend what a difference a lower interest rate and shorter mortgage term can make in terms of actual interest paid is to look at the difference on a mortgage calculator. Once you see the difference in interest in black and white, it’s virtually impossible to ignore the consequences of not shopping around for your mortgage.
In order to answer this question, you can go over some of our calculators
Mortgage Calculators are intended solely for general information and education purposes. You should not take any action on the basis of the information provided through this calculator. This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.