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When is the last day to get the 35 years amortization mortgage in Canada?

 
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anonymous


How much lower is my monthly mortgage payment with 35 years amortization in compare to 30 years?
0     In Mortgage Cont.08

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    Q. How do i calculate monthly mortgage payments on a 400,000 mortgage for 4 years fixed and 30 years amortization?


    "Years amortization period for 5 year fixed mortgage 3.7% rate is $1,834.76..."



    The monthly mortgage payment on a 400,000 loan for 30 years amortization period for 5 year fixed mortgage 3.7% rate is $1,834.76 . It will cost you 260,000 in mortgage interest if will take that long for you to pay the mortgage. Remember that most of the interest paid in the first 5 years of your mortgage. In order to speed up the payent process you can do double payments or biweekly. If you take the same mortgage with biweekly payments your biweekly payment will be $ 846.11 which is $142 less per month.

    This answer closely relates to:
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      • How big of a different in monthly payments if i get a 300,000 mortgage for a 5 year fixed rate with 25 or 35 years amortization?
      • How do i calculate monthly mortgage payments on a 400,000 mortgage for 4 years fixed and 30 years amortization?
    • Mortgage and amortization how long can i get 40 year 2011
      • How fast can i pay off my mortgage if i make double payments biweekly?
      • How much do i save if i do biweekly payments for a 35 year mortgage?

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    Q. How do i calculate monthly interest payment on a 300,000 5 year fixed mortgage with 25 years amortization?


    "If you want to obtain a 300,000 mortgage for 5 years fixed mortgage with..."



    You will pay $ 1,576.43 a month if you want to obtain a 300,000 mortgage for 5 years fixed mortgage with 25 years amortization period. THe calculation was done on the average rate of 2.99 percent for 5 years fixed mortgage.

    This answer closely relates to:
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      • Should i break my 5 years fixed mortgage of 5.4% and move to a 3.69% 5 years fixed mortgage rate?
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      • I have a 5 years 3.6% fixed mortgage rate with scotia bank which i locked in april 2010. how much would it cost to break the mortgage?
      • How to find fixed rate for mortgage over 5 years?

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    Can you help us by answering one of these related questions?
    1. How will the real estate market be affected after march when the new rules kicks in which only allows 30 years maximum amortization period?
    2. What is the max mortgage amortization in bc?
    3. Can i inrease my mortgage amortization?
    4. What is the maxium amortization for a mortgage?
    5. Does the amortization remain the same when a mortgage renews?
    6. How to calculate a 35 year amortization mortgage?
    7. How do new mortgage amortization affect renewals?
    8. Does the amortization stay the same when porting a mortgage?
    9. Can i lower the amortization when i renew mortgage?
    10. What is the longest amortization for a canadian mortgage?

    We need your help! Please help us improve our content by removing questions that are essentially the same and merging them into this question. Please tell us which questions below are the same as this one:

    Q: When is the last day to get the 35 years amortization mortgage in canada?
    • 77% - What is the maximum years of amortization for the mortgage?
    • 74% - When renewing mortgage do you still use same amortization rate or the remaining years left?
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    • 72% - Can you go longer than 30 years amortization canada?
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    • 60% - What are the banks offering for amortization years?

    The following questions have been merged into this one. If you feel any of these questions have been included in error help us improve our content by splitting these questions into seperate discussions. Please unmerge any questions that are not the same as this one:

    Q: When is the last day to get the 35 years amortization mortgage in canada?
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      - No more 35 year mortgages in ontario
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    • Which bank offers 35 year amatorization?
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    • Can you get a 30 year mortgage?
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