Found your dream home? Curious to know how much that lovely piece of real estate will cost? We have provided you with one of the most cutting edge mortgage calculators in the industry. Using the calculator is very simple, it is built as a questionnaire. Simply answer the questions one by one and you will receive your monthly mortgage payments. The calculator provides you with plenty of different variables that allow you to customize your mortgage the way you like it. The Canadian Mortgage Calculator is also up to date with all provincial laws.
What is Land Transfer Tax (LTX)?
Land Transfer Tax is applicable to all Canadian Provinces. Each province has a different breakdown in how they view land transfer tax. It is very important that you know what your provinces Land Transfer Tax laws are.
How are Payments Different across Canada?
|PST on CMHC Insurance||Land Transfer Taxes||Land Transfer Rebate|
|British Columbia (BC)|
|New Brunswick (NB)|
|Nova Scotia (NS)|
|Prince Edward Island (PEI)|
|Newfoundland and Labrador (NL)|
What is CMHC and What is CMHC Insurance?
CMHC stands for Canada Mortgage and Housing Corporation. They are a crown corporation that is designed to help protect Canadian consumers. CMHC insurance or more commonly referred to as CMHC Mortgage Loan Insurance. To obtain insurance lenders will pay a particular insurance that costs more. Lenders typically pass this cost onto you the consumer.
We have written a lot about mortgages for Canadians. Here are a few useful articles that our readers viewed as the most important information for Canadian consumers.