Tools
Private Mortgage Calculators
Use these four free calculators to estimate private mortgage costs, how much a second mortgage could provide at your combined loan to value, potential debt consolidation savings, and interest only payments. Results are estimates only; actual terms are set by the lender.
Private mortgage cost calculator
Interest over term: $20,000
Fees (lender, broker, legal, appraisal): $11,100
Total cost: $31,100
Second mortgage combined LTV calculator
Total mortgages allowed at 80%: $800,000
Estimated maximum second mortgage: $300,000
Current LTV: 50.0%
Debt consolidation savings calculator
New interest only payment: $500 per month
Monthly cash flow freed: $1,900
Interest only payment calculator
Monthly payment: $1,125
Annual interest: $13,500
Calculator FAQ
How is an interest only payment calculated?
Multiply the loan amount by the annual interest rate, then divide by 12. A $200,000 loan at a 10% annual rate is about $1,667 per month.
What is combined loan to value?
All mortgage balances on the property added together, divided by the appraised value. Private lenders typically cap it at up to 85% on strong GTA properties.
Are calculator results an approval?
No. They are estimates. All mortgages are subject to lender approval and property qualification, and real costs are disclosed in writing before you sign.
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