Mortgage Tools

Your credit is one of three factors that will be considered in the process of getting approved for a mortgage. Two additional factors to consider are your income and your down payment. A down payment of 20 per cent is the minimum necessary to avoid paying CMHC’s mortgage default insurance, however a down payment this size is rare with first-time home buyers.

We have included convenient tools to allow you to easily calculate the monthly mortgage payment, CMHC Mortgage Insurance premium, and Ontario Land Transfer Tax you can expect to pay on properties purchased in the Hamilton area.