Mortgage calculator in Northwest Territories

Mortgage calculator in Northwest Territories 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?

Real estate value calculation
Loan amount calculation
How much will the property cost me
%
%
C$
years
days.genitive
months
years
0 C$
i

Specify the type of payment for calculating

Disclaimer
Mortgage Calculator
Interest rates in Northwest Territories on 29.01.2023
50000 C$ 3000000 C$
years
days.genitive
months
years
4.54 % 6.59 %
i

Specify the type of payment for calculating

Early repayment
50000 C$ 3000000 C$
%
%
C$
years
days.genitive
months
years
Disclaimer
Total Monthly Payment
C$
 

 

 

 

 

Details
Amortization Table
Total Monthly Payment

In this section you will see the calculation of the monthly mortgage payment amount

C$
Mortgage Amount
C$

Interest costs
C$
Payment

Here is a breakdown of the total amount of payment for the loan body and interest for the use of credit funds

 

 

Annual schedule

Your Mortgage Payment Information
Mortgage interest rates for January 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

Rent vs Buy: What is cheaper in Northwest Territories?

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 January 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 29.01.2023 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 January 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 29.01.2023 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 January 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 29.01.2023 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 January 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 29.01.2023 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 January 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 29.01.2023 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 January 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 29.01.2023 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 January 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 29.01.2023 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 January 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 29.01.2023

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

HELOC
Brokers
Reverse
Refinance
5-years
5-years
10-years
15-years
25-years
300
300
650
850
1000

Mortgage offers

Start your housing search in Northwest Territories with our 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 mortgage options available in Northwest Territories in January, 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 mortgages in Northwest Territories

If you decide to apply for a mortgage loan, we recommend you read the articles in this section. This minimum amount of information can help you do everything right.

What is a Northwest Territories mortgage calculator?

With the highest median household incomes across Canada and affordable home prices, Northwest Territories is a great place to live. In January 2023, the average house price in the Northwest Territories was $439,591. As for the median household income, it stood at $127,000 in 2020 — well above the national average. Therefore, for the residents of this province, the mortgage is not a heavy financial burden.

If you are shopping around for a mortgage loan in Northern Territories, consider the following financial institutions:

In the Northwest Territories, you can find mortgages with open and closed terms at fixed and variable rates. Interest rates for a 5-year fixed-rate mortgage range from 4.75% to 6.59% across Northwest Territories. The average rate is about 5.24%.

Wondering how much you will have to pay for your mortgage monthly, semi-monthly, bi-weekly, or weekly? With a Northwest Territories mortgage calculator, you can make the necessary estimations easily.

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

How to use a Northwest Territories mortgage calculator?

Calculating your regular payment amount with a Northwest Territories mortgage calculator is quick and easy. To proceed, enter the values for the key parameters of your mortgage — the home price, down payment amount, mortgage term, interest rate, amortization period, and payment frequency — into the designated fields.

For example, you want to buy a property for $900,000. If you make a down payment of $220,000, your mortgage loan amount will be $680,00. With a 4.92% interest rate and a 30-year amortization period, your monthly payment will be $3,597. Throughout the term, you will pay $215,801 in total, including $56,722 toward the principal and $159,079 toward the interest.

Benefits of a Northwest Territories mortgage calculator

Using a Northwest Territories mortgage calculator will help you see beforehand how much you will have to spend on your mortgage repayment. In addition, you can compare several repayment scenarios by adjusting the values you use as input. Seeing how different mortgage solutions compare in terms of your regular payment will help you choose the optimal solution for your budget.


Was the article useful?
Like
0
Dislike
0

Olga R
Author of articles
Olga R
11.11.2022
25.01.2023
Alberta mortgage calculator
What is a mortgage calculator in Alberta and how it works
British Columbia mortgage calculator
What is a mortgage calculator in British Columbia and how it works
Manitoba mortgage calculator
What is a mortgage calculator in Manitoba and how it works
New Brunswick mortgage calculator
What is a mortgage calculator in New Brunswick and how it works
Newfoundland and Labrador mortgage calculator
What is a mortgage calculator in Newfoundland and Labrador and how it works
Nova Scotia mortgage calculator
What is a mortgage calculator in Nova Scotia and how it works
Ontario mortgage calculator
What is a mortgage calculator in Ontario and how it works
Prince Edward Island mortgage calculator
What is a mortgage calculator in Prince Edward Island and how it works
Saskatchewan mortgage calculator
What is a mortgage calculator in Saskatchewan and how it works
Nunavut mortgage calculator
What is a mortgage calculator in Nunavut and how it works
Yukon mortgage calculator
What is a mortgage calculator in Yukon and how it works

Other provinces mortgage calculators

Mortgage calculator
What is a mortgage calculator in Canada and how it works
Refinance mortgage calculator
What is a refinance mortgage calculator in Canada and how it works
HELOC calculator
What is HELOC calculator in Canada and how it works
Mortgage affordability calculator
What is a mortgage affordability calculator in Canada and how it works
CMHC mortgage calculator
What is CMHC mortgage calculator in Canada and how it works
Vancity mortgage calculator
What is Vancity mortgage calculator in Canada and how it works
Realtor mortgage calculator
What is Realtor mortgage calculator in Canada and how it works
FCC mortgage calculator
What is FCC mortgage calculator in Canada and how it works
Desjardins mortgage calculator
What is Desjardins mortgage calculator in Canada and how it works
Ratehub mortgage calculator
What is Ratehub mortgage calculator in Canada and how it works

Canadian's banks mortgage calculators

TD mortgage calculator
What is TD mortgage calculator in Canada and how it works
RBC mortgage calculator
What is RBC mortgage calculator in Canada and how it works
Scotiabank mortgage calculator
What is Scotiabank mortgage calculator in Canada and how it works
BMO mortgage calculator
What is BMO mortgage calculator in Canada and how it works
CIBC mortgage calculator
What is CIBC mortgage calculator in Canada and how it works
Tangerine mortgage calculator
What is Tangerine mortgage calculator in Canada and how it works
ATB mortgage calculator
What is ATB mortgage calculator in Canada and how it works
Coast Capital mortgage calculator
What is Coast Capital mortgage calculator in Canada and how it works
Simplii Financial mortgage calculator
What is Simplii Financial mortgage calculator in Canada and how it works
HSBC mortgage calculator
What is HSBC mortgage calculator in Canada and how it works
NBC mortgage calculator
What is NBC mortgage calculator in Canada and how it works
Equitable Bank mortgage calculator
What is Equitable Bank mortgage calculator in Canada and how it works
Laurentian Bank mortgage calculator
What is Laurentian Bank mortgage calculator in Canada and how it works
ICICI Bank mortgage calculator
What is ICICI Bank mortgage calculator in Canada and how it works
UNI mortgage calculator
What is UNI mortgage calculator in Canada and how it works
Manulife Bank mortgage calculator
What is Manulife Bank mortgage calculator in Canada and how it works
CWB mortgage calculator
What is CWB mortgage calculator in Canada and how it works
FNBC mortgage calculator
What is FNBC mortgage calculator in Canada and how it works
Motusbank mortgage calculator
What is Motusbank mortgage calculator in Canada and how it works
B2B mortgage calculator
What is B2B mortgage calculator in Canada and how it works
BDC mortgage calculator
What is BDC mortgage calculator in Canada and how it works
Alterna Bank mortgage calculator
What is Alterna Bank mortgage calculator in Canada and how it works