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Mortgage Calculators

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Payment

Mortgage Payment Calculator

  • Principal Amount: The mortgage balance / the amount borrowed.
  • Term & Type: Type of mortgage is: variable whereby the interest rate may fluctuate from time to time throughout the term of the mortgage according to changes in the Manulife Bank Prime Rate or fixed whereby the interest rate is predetermined and does not change throughout the term of the mortgage. Term is the lenght of the mortgage agreement.
  • Interest Rate: A percentage of the amount borrowed which is paid by the borrower to the lender.
  • Payment Frequency: How often you make your regular mortgage payments
  • Amortization (years): The number of years it would take to pay off your entire mortgage at the chosen payment amount.

Your monthly mortage payment would be: $0.00

Your Mortgage Balance Over Time

Outstanding Balance

Year

Amortization Table

Payment Frequency Payment Amount Amortization Term Interest Costs Amortization Interest Costs Amortization Interest Savings
      
      
      
      
      
 

This report and all calculations within it are based on the assumptions you provided, and are for illustrative purposes only and not a guarantee of future results. Since your specific situation may differ from this illustration, it is important that you review your situation with your local Manulife Banking Consultant. This calculation assumes you were able to open this account today. However to get started with Manulife Bank Select, you must first apply, have a Manulife Bank review your application and, if approved, have your Manulife Bank Select mortgage fund.

Prepayment

Prepayment Calculator

  • Original Morgage Amount: The mortgage balance / the amount borrowed.
  • Lump sum payments made this year
  • Current regular payment amount
  • Payment Frequency: How often you make your regular mortgage payments
  • Interest Rate: A percentage of the amount borrowed which is paid by the borrower to the lender.

For this year, you can:

Option Amount Pay your Mortgage Interest
Make a Lump sum payment of $0   $0
Increase your payment to $0   $0
 

The payment can’t exceed the outstanding balance.

You can make a larger payment or payout the remaining balance of the mortgage with an additional charge.

Please contact 1-877-765-2265 for more details

This report and all calculations within it are based on the assumptions you provided, and are for illustrative purposes only and not a guarantee of future results. Since your specific situation may differ from this illustration, it is important that you review your situation with your local Manulife Banking Consultant. This calculation assumes you were able to open this account today. However to get started with Manulife Bank Select, you must first apply, have a Manulife Bank review your application and, if approved, have your Manulife Bank Select mortgage fund.

Affordability

Affordability

How much can you borrow?

  • Gross monthly household income: The total monthly income for your family before taxes.

Monthly Home Expenses & Debt Payments

  • Monthly housing expenses: Rent, mortgage, property taxes, condo fees, heating and other utilities.
  • Monthly repayments on existing debt: Payments on credit cards, loans, student loans and any other debt.
  • Interest Rate: A percentage of the amount borrowed which is paid by the borrower to the lender.
  • Over how many years do you want to pay it back (Amortiation): Must be between 1 and 30 years.
  • Downpayment

Results:

Based on your responses, you can potentially borrow up to: $0

With your downpayment, you may be able to afford a home with a maximum purchase price of: $0

This is a guideline only. Please contact your local Manulife Banking Consultant for a complete review.

This report and all calculations within it are based on the assumptions you provided, and are for illustrative purposes only and not a guarantee of future results. Since your specific situation may differ from this illustration, it is important that you review your situation with your local Manulife Banking Consultant. This calculation assumes you were able to open this account today. However to get started with Manulife Bank Select, you must first apply, have a Manulife Bank review your application and, if approved, have your Manulife Bank Select mortgage fund.

 

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