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.

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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.