Mortgage Calculator
Estimate your monthly mortgage payment and see what you can afford in Greater Moncton.
Mortgage Calculator
Estimate your monthly mortgage payment
Estimated Monthly Payment
$1,678
per month
This calculator is for illustrative purposes only. It does not constitute financial advice. Actual rates, payments, and eligibility may vary. Please consult a mortgage professional for accurate figures tailored to your situation.
Understanding Your Mortgage in Canada
Minimum Down Payment
In Canada, the minimum down payment is 5% for homes under $500,000, 10% for the portion between $500,000 and $1,000,000, and 20% for homes over $1,000,000. Mortgage insurance (CMHC) is required for down payments under 20%.
Interest Rates
Canadian mortgage rates vary between fixed and variable options. Fixed rates offer stability, while variable rates may start lower but can change with the market. Consult with a mortgage broker for the best current rates.
Amortization Period
The maximum amortization for insured mortgages in Canada is 25 years. For conventional mortgages (20%+ down), you may choose up to 30 years. A shorter amortization means higher payments but less interest paid overall.
Additional Costs
Beyond your mortgage, budget for property taxes, home insurance, utilities, and maintenance. In New Brunswick, property tax rates vary by municipality. Ask Cameron for specific cost estimates in your target area.
Ready to Find Homes in Your Budget?
Now that you know your estimated payment, let's find properties that match your budget in Greater Moncton.