Sel-Rite Realty  works with mortgage specialists to help you find the best interest rate. Use this mortgage calculator to determine the amount of mortgage you qualify for.

Part I - Your Available Assets

CASH

$

STOCKS

$

MUTUAL FUNDS

$

CSB'S & OTHER

$

TERM DEPOSITS (GIC'S)

$

RRSP'S

$

TOTAL AVAILABLE ASSETS

$

Part II - Your House Buying Expenses

GST

$

PROPERTY PURCHASE TAX ( B.C.)

$

LEGAL FEES

$

MORTGAGE SETUP FEES

$

LAND TRANSFER TAX

$

MOVING EXPENSES

$

INSURANCE PREMIUMS (FIRE, MORTGAGE)

$

IMMEDIATE HOME RENOVATIONS (I.E. DRAPERY, HARDWARE, MISC)

$

TOTAL HOUSE BUYING EXPENSES

$

Part III - Calculating Your Affordable Mortgage

YOUR GROSS MONTHLY INCOME

$

YOUR SPOUSE'S GROSS MONTHLY INCOME

$

OTHER REGULAR INCOME

$

TOTAL MONTHLY HOUSEHOLD INCOME

$

30% OF MONTHLY HOUSEHOLD INCOME

$

DEDUCT:

ESTIMATED MONTHLY PROPERTY TAXES

$

HALF MONTHLY CONDOMINIUM FEES

$

MAXIMUM MONTHLY MORTGAGE PAYMENT (BASED ON GDS GUIDELINES)

$

TDS RTIO CALCULATIONS:

TOTAL MONTHLY HOUSEHOLD INCOME

$

40% OF MONTHLY HOUSEHOLD INCOME

$

DEDUCT:

MONTHLY CREDIT CARD PAYMENTS

$

CAR LOAN PAYMENTS

$

OTHER

$

ESTIMATED MONTHLY PROPERTY TAXES

$

HALF MONTHLY CONDOMINIUM FEES

$

MAXIMUM MONTHLY MORTGAGE PAYMENT (BASED ON TDS GUIDELINES)

$

Use the lower of your GDS or TDS calculation to determine the total mortgage amount you can afford to maintain.               

Your Affordable Mortgage:

LOWEST OF GDS OR TDS FIGURE

$

DIVIDE BY:

MONTHLY MORTGAGE FACTOR

$

YOUR AFFORDABLE MORGAGE

$

Monthly Mortgage Factor if current rate is:

6.5%

DIVIDE BY 0.006698

7.0%

DIVIDE BY 0.007004

7.5%

DIVIDE BY 0.007316

8.0%

DIVIDE BY 0.007632

8.5%

DIVIDE BY 0.007954

9.0%

DIVIDE BY 0.008280

9.5%

DIVIDE BY 0.008610

 

 

                                 

                    INFORMATION HEREIN IS BELIEVED TO BE ACCURATE BUT NOT WARRANTED TO BE SO.