BC Mortgage Calculator for Condo Buyers

Mortgage & Affordability Calculator

Use our tool to estimate your monthly mortgage payments and understand your buying power in the BC condo market.

Understanding Your Mortgage

Key Terms Explained

Purchase Price: The total cost of the condo.
Down Payment: The upfront amount you pay.
Amortization Period: The total time to pay off the mortgage.
Interest Rate: The rate charged by the lender.

Down Payments & Insurance

You can buy a home with less than a 20% down payment, but you’ll likely need mortgage loan insurance. This protects lenders against the risk of mortgage default.

Learn More from CMHC

Beyond the Mortgage

Remember to budget for other monthly costs, such as:

• Strata (Maintenance) Fees
• Property Taxes
• Home Insurance

Purchase Amount:

Interest Rate:

Mortgage Term (Years):

Payment Interval:

Down Payment:

Closing Costs ($):

Closing Costs (%):

Loan amount:

Interest rate:

Payment interval:

Mortgage term:

Payment:

Total payments:

Total amount paid:

Total interest paid:

This calculator is for information purposes only. Users should not use this calculator to make any financial decisions and should speak with their bank or mortgage broker. The website owner does not guarantee the accuracy or reliability of any information or calculations provided by this calculator. The website owner is not liable for loss or damage of any kind arising from the use of this tool.

Ready to Take the Next Step?

Getting pre-approved for a mortgage is the most important first step in your condo search. We can connect you with trusted mortgage professionals to help you get started.

Connect With Us Start Searching Listings

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.

New Heights Realty Group