Mortgage calculators

See what future homeownership might look like.

Here are six handy calculators you can use to determine how much home you can afford and the various costs involved. You can even perform 'what if' scenarios to see which options might work best for you.

If at any point, you're not sure how to proceed or you need some expert advice, Mico Financial is always ready to help. Just click here to find the Mortgage Specialist near you.

 

Rent vs. Buy Calculator

Simply fill in your current rent and what your anticipated costs of home ownership are, and this calculator will tell you whether you're better off renting or buying. Of course, if you'd like a more comprehensive analysis of your situation—along with expert unbiased advice—feel free to talk to your Mortgage Specialist.

Mortgage Qualifier

Like the Maximum Mortgage Calculator, this calculator shows you how much mortgage you can afford. But this time, you can put in the house price you have in mind, along with your expenses, and the calculator will show you how much income you'll need to qualify. Again, feel free to talk to your Mortgage Specialist if you'd like a thorough analysis of your specific situation.

Maximum Mortgage Calculator

This calculator will tell you the maximum mortgage amount and monthly payment you can qualify for based on your income and existing expenses. If you'd like some help with this calculation, or you have special circumstances not covered in this calculator, feel free to talk to your Mortgage Specialist.

Mortgage Payment Calculator

Simply fill in your purchase price, downpayment, amortization and payment frequency, and this calculator will show you how much your payments will be and the total amount of interest you'll pay over the life of the mortgage. If you'd like help deciding whether you can afford this level of payments over the long term, feel free to talk to your Mortgage Specialist.

Mortgage Isolator Calculator

Like the Mortgage Payment Calculator, this calculator shows you how much your payments will be. But here you can isolate and change your payment frequency, amortization, mortgage amount, interest rate or payment size to see what effect it will have on the other variables. If you need help performing this—or any other calculation—feel free to talk to your Mortgage Specialist.

Current Mortgage Rates

TermBank RateOur Rate
1 year3.20%2.39%
2 years2.84%2.14%
3 years3.44%2.34%
4 years3.89%2.49%
5 years4.64%2.64%
7 years5.30%3.29%
10 years6.10%3.69%
Prime2.70%2.70%
Variable2.70%2.20%
*rates subject to change
without notice
Mortgage CalculatorBest Mortgage Rate