- Apply On Line - Apply Online Apply by Fax Arrange a Callback - Mortgage Resources - Rates Learning Centre Press Releases Industry News Glossary Legal Information Privacy Policy - Calculators & Tools - Amortization Finance your Purchase Mortgage Manager Schedule Investment Planner Buy Down Affordability Affordability Chart Rent vs. Own ---> Differential ---> Differential Calculator Compare mortgages of different rates. Select Canadian or U.S. Mortgage. YEARS   MONTHS Loan Amount : Mortgage Term 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 20 25 30 & 0 1 2 3 4 5 6 7 8 9 10 11 Market Rate : % Amortization 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 & 0 1 2 3 4 5 6 7 8 9 10 11     4.55 % is 3 yr mode of Current Rates Compare Rate : % Less than Market = Beneficial To compare financing, input Compare Rate and Market Rate with mortgage amount, term, and amortization. Then click on CALCULATE. Use this calculator to compare discounted mortgage rate offers, the costs or benefits of assuming existing mortgage financing, or calculating the Interest Rate Differential and payout penalty on your mortgage. A $ 100,000 mortgage at current market rates of 4.55 % with a 36 month term and 300 month amortization results in monthly payments of $ 556 and a balance at term maturity of $ 93,051. A higher than market mortgage rate of 6 % would result in a payment that is $ 84 higher each month and a balance at term maturity that is also $ 1,215 higher. The present value of the differences in payments with this adverse financing is $ 3,870. You would be WORSE OFF with the 6 % mortgage by a Present Value of $ 3,870. Interest Rate Payments of $ 556 per Month Balance at TERM MARKET 4.55 % 36 Months $ 93,051 Canadian Calculation - Compounding Semi-Annually Payments of $ 640 per Month COMPARE 6 % 36 Months $ 94,265 $ 84 higher per Month DIFFERENCE -1.449 % 36 Months DIFFERENCE $ -1,215 PRESENT VALUES (PV) ( 4.55 % discount ) PAYMENTS : $ -2,808 BALANCE : $ -1,061 $ -3,870 PV Cost of Adverse Financing (6 % OVER market 4.55 %) $ -4,222 Absolute Cost of Adverse Financing	COMPARE RATES TERM OURS BANKS 6.mo 1yr. 3yr. 5yr. 4.75% 2.75% 3.70% 4.39% 0000% 3.75% 4.55% 5.85% Quick Calculator
Back to Top     Figures are rounded to nearest dollar. The above information is for illustrative purposes only. We cannot guarantee its accuracy. Please contact your financial advisor for more specific information. Calculator powered by CanadaMortgage.com	Legal Information Privacy Policy