Canadian Western Bank Mortgage Calculator of February 2023

Canadian Western Bank Mortgage Calculator

Canadian Western Bank 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
%
%
C$
years
days.genitive
months
years
i

Specify the type of payment for calculating

0 C$
Disclaimer
Mortgage Calculator
Canadian Western Bank interest rates on 08.02.2023
Canadian Western Bank
50000 C$ 35000000 C$
years
days.genitive
months
years
5 % 8 %
i

Specify the type of payment for calculating

Early repayment
25000 C$ 3500000 C$
%
%
C$
years
days.genitive
months
years
Disclaimer
Total Monthly Payment
C$
 

 

 

 

 

Details
Amortization Table
Total Monthly Payment

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

C$
Mortgage Amount
C$

Cost of borrowing
C$
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 Canadian Western Bank 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
850
1000

Mortgage offers

Start your housing search with Canadian Western Bank 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 Canadian Western Bank 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 the Canadian Western Bank mortgage calculator?

Canadian Western Bank offers different mortgage options for your home-buying needs. You can choose between an open, closed, and convertible term with a fixed-rate mortgage. Fixed-rate open and convertible mortgages are available for a 6-month term with the APRs of 8.340% and 6.040%, respectively. Fixed-rate closed mortgages are available for terms of 1 to 5 years, with the APRs ranging from 5.470% to 7.720%, depending on the term. Variable-rate mortgages are available for a 5-year term at the 5.470% APR.

To apply for a Canadian Western Bank mortgage, fill out a contact form on the website, and a CWB Relationship Manager will get in touch with you to discuss the available options.

If you are wondering what your regular payments may look like, you can use the online mortgage calculator. This tool can also estimate your interest savings when making prepayments.

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

Canadian Western Bank mortgage calculators

Canadian Western Bank provides several online calculator tools on its website:

  • Mortgage calculator to get an idea of your regular payments and total payments over the term, as well as potential prepayment interest savings

  • Rent vs. buy calculator to estimate your long-term housing expenses in case you purchase or rent a house

  • Mortgage qualifier calculator to identify how much you can afford to spend on a house

  • Mortgage payoff calculator to estimate your potential savings from making additional payments, given the amortization period left

  • Mortgage compare calculator to compare up to three mortgages in terms of monthly payments, fees, and other costs 

  • Mortgage prepayment calculator to identify penalties you may face when exceeding the allowed prepayment amounts

You can use a mortgage payment calculator without leaving our site.

Why do you need a Canadian Western Bank mortgage calculator?

Having the key mortgage parameters in mind (the mortgage amount, amortization period, term, payment frequency, and interest rate), you can calculate your regular payment. In addition, you can estimate your potential interest savings in case you make additional prepayments. With these calculations, you can plan your household budget accordingly and develop an actionable plan to become mortgage-free faster.

How to use a Canadian Western Bank mortgage calculator?

To calculate your regular mortgage payment, enter the values for the mortgage amount, amortization period, term, payment frequency, and interest rate into the designated fields in the mortgage calculator. For example, if you borrow $170,000 for a 3-year term at a 5.51% APR with a 17-year amortization period, your monthly payment will be $1,881.92, and total payments over the mortgage term will be $383,9113. 

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 Canadian Western Bank Mortgage Specialist. 

If you consider making additional prepayments to repay your mortgage faster, enter the value for the prepayment amount you have in mind and select the prepayment schedule — bi-weekly, semi-monthly, monthly, yearly, or one-time. For example, let’s assume you are making additional monthly prepayments of $1,000. This way, your prepayment interest savings will be $65,420.

How to compare Canadian Western Bank mortgages using a mortgage calculator?

With the mortgage calculator, you can compare different options in terms of the regular payment amount. You will see how your mortgage payment changes by modifying the values entered into the calculator as input.

Alexandra V
Editor
Alexandra V
09.11.2022
06.02.2023

Other banks mortgage calculator

TD mortgage calculator
TD mortgage calculator
What is TD mortgage calculator in Canada and how it works
RBC mortgage calculator
RBC mortgage calculator
What is RBC mortgage calculator in Canada and how it works
Scotiabank mortgage calculator
Scotiabank mortgage calculator
What is Scotiabank mortgage calculator in Canada and how it works
BMO mortgage calculator
BMO mortgage calculator
What is BMO mortgage calculator in Canada and how it works
CIBC mortgage calculator
CIBC mortgage calculator
What is CIBC mortgage calculator in Canada and how it works
Tangerine mortgage calculator
Tangerine mortgage calculator
What is Tangerine mortgage calculator in Canada and how it works
ATB mortgage calculator
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
Simplii Financial mortgage calculator
What is Simplii Financial mortgage calculator in Canada and how it works
HSBC mortgage calculator
HSBC mortgage calculator
What is HSBC mortgage calculator in Canada and how it works
NBC mortgage calculator
NBC mortgage calculator
What is NBC mortgage calculator in Canada and how it works
Equitable Bank mortgage calculator
Equitable Bank mortgage calculator
What is Equitable Bank mortgage calculator in Canada and how it works
Laurentian Bank mortgage calculator
Laurentian Bank mortgage calculator
What is Laurentian Bank mortgage calculator in Canada and how it works
ICICI Bank mortgage calculator
ICICI Bank mortgage calculator
What is ICICI Bank mortgage calculator in Canada and how it works
UNI mortgage calculator
UNI mortgage calculator
What is UNI mortgage calculator in Canada and how it works
Manulife Bank mortgage calculator
Manulife Bank mortgage calculator
What is Manulife Bank 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
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
BDC mortgage calculator
What is BDC mortgage calculator in Canada and how it works
Alterna Bank mortgage calculator
Alterna Bank mortgage calculator
What is Alterna Bank mortgage calculator in Canada and how it works
Servus mortgage calculator
Servus mortgage calculator
What is Servus mortgage calculator in Canada and how it works
Meridian Credit Union mortgage calculator
What is Meridian Credit Union mortgage calculator in Canada and how it works
Assiniboine mortgage calculator
What is Assiniboine mortgage calculator in Canada and how it works
Affinity mortgage calculator
What is Affinity mortgage calculator in Canada and how it works
Cambrian mortgage calculator
What is Cambrian mortgage calculator in Canada and how it works
Conexus mortgage calculator
Conexus mortgage calculator
What is Conexus mortgage calculator in Canada and how it works
Northern mortgage calculator
What is Northern mortgage calculator in Canada and how it works
Access mortgage calculator
What is Access mortgage calculator in Canada and how it works
SCU mortgage calculator
What is SCU mortgage calculator in Canada and how it works
Coastal Community mortgage calculator
What is Coastal Community mortgage calculator in Canada and how it works
East Coast mortgage calculator
What is East Coast mortgage calculator in Canada and how it works
Innovation mortgage calculator
What is Innovation mortgage calculator in Canada and how it works
Prospera mortgage calculator
Prospera mortgage calculator
What is Prospera mortgage calculator in Canada and how it works
Kawartha mortgage calculator
What is Kawartha mortgage calculator in Canada and how it works
Bayview mortgage calculator
What is Bayview mortgage calculator in Canada and how it works
Connect First mortgage calculator
What is Connect First mortgage calculator in Canada and how it works
Sydney mortgage calculator
What is Sydney mortgage calculator in Canada and how it works
Gulf & Fraser mortgage calculator
What is Gulf & Fraser mortgage calculator in Canada and how it works
Libro mortgage calculator
What is Libro mortgage calculator in Canada and how it works
Sunova mortgage calculator
What is Sunova mortgage calculator in Canada and how it works
PACE mortgage calculator
What is PACE mortgage calculator in Canada and how it works
Westoba mortgage calculator
What is Westoba mortgage calculator in Canada and how it works
Me-Dian mortgage calculator
What is Me-Dian mortgage calculator in Canada and how it works
Cornerstone mortgage calculator
What is Cornerstone mortgage calculator in Canada and how it works
Fusion mortgage calculator
What is Fusion mortgage calculator in Canada and how it works
​FirstOntario mortgage calculator
What is ​FirstOntario mortgage calculator in Canada and how it works
Sunshine Coast mortgage calculator
What is Sunshine Coast mortgage calculator in Canada and how it works
Kindred mortgage calculator
What is Kindred mortgage calculator in Canada and how it works
Sunrise mortgage calculator
What is Sunrise mortgage calculator in Canada and how it works

Other 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
Commercial mortgage calculator
What is Commercial mortgage calculator in Canada and how it works
Mortgage payoff calculator
What is mortgage payoff calculator in Canada and how it works