Are you interested in buying a home in the Victoria / Vancouver Island area? I can help!  Mortgage calculator.

Ask for my Buyers Guide. It will answer Questions like.

How much can you afford? A quick calculation

Gross Monthly Income + Monthly Property Taxes + Interest Factor

income x 0.32=------ + ----------- + .00732 + down payment =

(Interest rate 7.5% ) (25 year amortization)

How much financing will you need?

Total purchase costs = House price +costs

Appraisal, Property inspection, Prepaid property taxes & utilities, Property purchase tax, Legal fee's, Service charges to hook up new utilities.

also if it is a high ratio mortgage. Insurance application fee, Mortgage insurance

e.g. House $200,000 - costs $5,000 - down payment - $40,000

$205,000 less $40,000 = $165,000

If this amount exceeds 75% of the purchase price or appraised value, the loan must be insured.

The above calculation may not include all costs, and is intended only as a guide to help estimate your financing requirements.