Resources
Welcome to our Calculator Tools!
It's important to note that these calculators provide only an approximation. For a more precise quote tailored to your unique financial situation, please contact us!
Mortgage Calculator
Use this tool to estimate your monthly mortgage payments, this is a convenient way to gauge affordability before committing to a mortgage.
Land Transfer Tax Calculator
Use this tool to estimate the amount of tax payable when transferring ownership of a property from one party to another.
Affordability Calculator
Use this tool to determine how much you can comfortably afford to spend on a home purchase.
Rate Comparison Table
Use this tool to quickly compare and contrast different rate options offered by various mortgage lenders.
CMHC Insurance Calculator
Use this CMHC (Canada Mortgage and Housing Corporation) tool to estimate the cost of mortgage insurance premiums in Canada.
Frequently Asked Questions
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You need a minimum of 5% down on a purchase price up to 500k, minimum of 10% down on any purchase price over 500k to 1 million, and a minimum of 20% on prices over 1 million.
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Firstly, we will review what you initially have saved and available for the down payment, then we will discuss and guide you on what other options/resources you have for the rest of your down payment amount.
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Typically, lenders look at your total income, credit score/history, and current assists and liabilities.
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This is a golden question everyone asks. It is our responsibility to review your financial goals and guide you on the best option. Generally, a variable rate is ideal for someone who can manage more risk. A fixed rate is perfect for those seeking lower risk and a consistent monthly budget.
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We will review your credit score and guide you on ways to increase it to establish a better score. We will also look at different lenders who don’t focus as much on poor credit scores (that are being repaired) when qualifying you.
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A general rule of thumb is to have at least 1.5% of your purchase price set aside for all the closing costs such as land transfer taxes, lawyer fees, and if applicable, default insurance premium tax.
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Common fees include occupancy fees, moving expenses, home inspection costs, appraisal fees, title insurance, status certificate, mortgage discharge fee, and possibly a mortgage penalty depending when the term is ending.
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There is no cost for Rosehill’s services as mortgage agents are compensated directly by the majority of lenders. Fees are only applicable if we are looking into any alternative, non-conventional lenders.
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