BDC Mortgage Calculator of February 2023

BDC Mortgage Calculator

BDC Mortgage Calculator in Canada in 2023. How to calculate a mortgage yourself? How to work with a mortgage calculator? Mortgage rates. What can I find out using a mortgage calculator? How to calculate a mortgage yourself?

Real estate value calculation
Loan amount calculation
How much will the property cost me
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Specify the type of payment for calculating

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Disclaimer
Mortgage Calculator
BDC
100000 C$ 3000000 C$
years
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4 % 6 %
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Early repayment
25000 C$ 3000000 C$
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Total Monthly Payment
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Details
Amortization Table
Total Monthly Payment

In this section, you can see your approximate monthly mortgage payment amount

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Mortgage Amount
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Cost of borrowing
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Payment

Here is the breakdown of the total cost of your loan: the principal and the interest.

 

 

Annual schedule

Your Mortgage Payment Information
Mortgages made easy

Apply anywhere with our quick and stress-free online mortgage application. Enjoy low rates, ongoing guidance from MogoMortgage Team

Mortgage interest rates for February 2023

We collect and analyze the best mortgage interest rates in Canada on a daily basis

Max Rate (5-year Fixed) 6.49 %
Min Rate (5-year Fixed) 4.45 %
Average Rate (5-year Fixed) 6.45 %
Max Rate (10-year Fixed) 8,1 %
Min Rate (10-year Fixed) 5,19 %
Average Rate (10-year Fixed) 5,75 %
Max Rate (25-year Fixed) 10 %
Min Rate (25-year Fixed) 7,58 %
Average Rate (25-year Fixed) 9,75 %
Nesto

Get 1% cashback on your mortgage value (Up to $9,250*) mortgage cashback

4.54 %
Profitably

What is cheaper BDC mortgage or rent in Canada?

We have prepared for you an analytical block to help you compare the financial advantages of renting and taking out a mortgage loan. With the help of this chart, you can figure out whether, at the moment, it is more profitable to rent a property or to buy it. The data is relevant for February 2023 of the year and does not consider inflation and the rise in the price of real estate.

1 bd condo
2 bd condo
3 bd condo
2 bd home
3 bd home
4 bd home
4+ bd home
Mortgage is cheaper!
On 08.02.2023 Mortgage is cheaper than Rent
10 C$ Your benefit!

Benefit for 1 year
120 C$

Benefit for 5 years
600 C$
Average data in Canada for February 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Mortgage
1 490 C$

Rent
1 500 C$

Difference
10 C$
Rent is cheaper!
On 08.02.2023 Rent is cheaper than Mortgage
80 C$ Your benefit!

Benefit for 1 year
960 C$

Benefit for 5 years
4 800 C$
Average data in Canada for February 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
1 800 C$

Mortgage
1 880 C$

Difference
80 C$
Rent is cheaper!
On 08.02.2023 Rent is cheaper than Mortgage
430 C$ Your benefit!

Benefit for 1 year
5 160 C$

Benefit for 5 years
25 800 C$
Average data in Canada for February 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
2 300 C$

Mortgage
2 730 C$

Difference
430 C$
Rent is cheaper!
On 08.02.2023 Rent is cheaper than Mortgage
3 150 C$ Your benefit!

Benefit for 1 year
37 800 C$

Benefit for 5 years
189 000 C$
Average data in Canada for February 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
1 800 C$

Mortgage
4 950 C$

Difference
3 150 C$
Rent is cheaper!
On 08.02.2023 Rent is cheaper than Mortgage
3 960 C$ Your benefit!

Benefit for 1 year
47 520 C$

Benefit for 5 years
237 600 C$
Average data in Canada for February 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
2 500 C$

Mortgage
6 460 C$

Difference
3 960 C$
Rent is cheaper!
On 08.02.2023 Rent is cheaper than Mortgage
2 960 C$ Your benefit!

Benefit for 1 year
35 520 C$

Benefit for 5 years
177 600 C$
Average data in Canada for February 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
3 500 C$

Mortgage
6 460 C$

Difference
2 960 C$
Rent is cheaper!
On 08.02.2023 Rent is cheaper than Mortgage
3 450 C$ Your benefit!

Benefit for 1 year
41 400 C$

Benefit for 5 years
207 000 C$
Average data in Canada for February 2023 of the year
We collect and analyze the cost of real estate in Canada on a monthly basis
Rent
4 000 C$

Mortgage
7 450 C$

Difference
3 450 C$

Compare mortgage offers for 08.02.2023

Use the mortgage loan matching configurator. Select the necessary parameters and click on the "Show" button

HELOC
Brokers
Reverse
Refinance
Conventional
Lenders
High-Ratio
Low-Ratio
Syndicated
Self-Employed
Second
Private
Commercial
C$100,000
C$150,000
C$200,000
C$250,000
C$300,000
C$350,000
C$400,000
C$450,000
C$500,000
C$550,000
C$600,000
5-years
5-years
10-years
15-years
25-years
300
300
650
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1000

Mortgage offers

Start your housing search with BDC mortgage calculator

Calculate your monthly payment Step 1

It might be a good idea to figure out how much you can spend before applying for a mortgage, as your monthly payment will be your most significant expense. For your convenience, we designed a user-friendly mortgage payment calculator that takes into account many factors, for example, your insurance costs and interest deduction.

Look through the terms and conditions Step 2

Check out the BDC mortgage options available in Canada in February, 2023. The system will select the most relevant offers according to the results of your calculation.

Check your credit score Step 3

To assess the mortgage loan approval probability, we recommend you check your credit score through our website. It is free. The minimum rating required for a mortgage with a traditional lender is 680. If your rating is lower than 680, we could recommend you a mortgage broker.

Check your debt Step 4

Buying a house is one of the most important money moves you'll ever make. It might be helpful to check if you owe money to someone before starting your house-hunting journey. To do it, you could use our debt-checking service. It's free. Banks tend to favor debt-free customers; therefore, if you see yourself in arrears, you’d better pay off all your debts before applying for a mortgage loan.

Apply Step 5

If your credit score is at least 680 and you don't have any outstanding debts, we recommend you start the application process. To apply for a mortgage, you can go to the bank's website by clicking the corresponding button in the offers listed above. Alternatively, you can use our mortgage application form.

Wait for the decision Step 6

Mortgage experts of the selected bank will assess your credit score and legal and financial risks associated with your application. After that, you will receive the decision on your application.

Find the right home Step 7

After your credit limit is approved, you can start looking for a home. If you need help figuring out where to start, you could take advantage of real estate websites such as REALTOR.ca, centris.ca, and zolo.ca to find your dream house.

Useful articles about mortgage in Canada

If you decide to apply for a mortgage loan, we recommend that you read the articles in this section. This is the minimum set of information that you need to do everything right.

Go to articles

What is a BDC mortgage calculator?

As a bank focused on business financing, BDC offers commercial mortgages for Canadian entrepreneurs to finance their real estate projects. BDC can provide your business with up to 100% financing for real estate expenses for up to 25 years. As an additional benefit, you can postpone principal payment for up to 36 months at the start of the loan.

You can apply for commercial real estate financing from BDC online by filling out the form on the website.

If you are wondering what your commercial mortgage payments may look like, you can use a business loan calculator tool. Along with the regular payment amount, the calculator will give you a hint about the interest and principal paid throughout the mortgage term, as well as the total payments you will make.

Attention! All mortgage and other loan calculators are for informational purposes only and provide general information. 

BDC calculators

BDC doesn’t provide mortgage calculators on its website. Still, you can use one on our website.

Online calculator tools that BDC offers are a business loan calculator to estimate your monthly payments and the interest costs, leverage ratio calculators to evaluate your company’s long‑term solvency, liquidity ratio calculators to estimate the amount of cash and easily converted assets you have to cover your obligations, and profitability ratios to evaluate the financial viability of your business.

Why do you need a BDC mortgage calculator?

The mortgage calculator is a tool to estimate your commercial mortgage repayment costs. Knowing the property price, down payment amount, term, interest rate, and amortization period, you can calculate your regular payment based on these mortgage parameters. With these calculations, you can make informed decisions on your business finances.

How to use a BDC mortgage calculator?

To estimate the expected mortgage payment amount, fill out the required fields in the mortgage calculator with your mortgage parameters — the property price, down payment amount, term, interest rate, and amortization period. Once you do, you will see the estimated monthly payment amount, along with the principal, interest, and interest plus principal paid over the term.

Let’s assume you are buying a property for $1,800,000, the 25% down payment is $450,000, the interest rate is 6.5%, the term is four years, and the amortization period is 20 years. After entering these values into the calculator, you will get the monthly payment of $9,997, interest costs of $328,110, principal costs of $151,734, and total costs of $479,844.

Attention! The results of this payment calculator are preliminary, and the specific numbers will depend on the timing of your application and other factors explained by a BDC Bank Mortgage Specialist. 

How to compare BDC mortgages using a mortgage calculator

With the mortgage calculator, you can compare mortgage solutions with different parameters in terms of regular payments. To do this, modify the values entered into the calculator as input and see how your payment amount changes. This way, you can determine which mortgage solution works best for your business.

Alexandra V
Editor
Alexandra V
09.11.2022
06.02.2023

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