NBC Mortgage Calculator of February 2023

NBC Mortgage Calculator

NBC 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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Mortgage Calculator
National Bank Of Canada
100000 C$ 3000000 C$
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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 National Bank Of Canada 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 07.02.2023 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 07.02.2023 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 07.02.2023 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 07.02.2023 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 07.02.2023 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 07.02.2023 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 07.02.2023 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 07.02.2023

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
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650
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Mortgage offers

Start your housing search with NBC 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 NBC 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 mortgages 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 National Bank of Canada mortgage payment calculator?

There is a range of mortgage options at the National Bank of Canada, including open, closed mortgages, fixed-rate, variable-rate, and capped-rate mortgages. Fixed-rate open mortgages are available for a 6-month and 1-year term at a 9.15% APR. Fixed-rate closed mortgages are available for 3 months to 10 years, with the APRs ranging from 6.09% to 7.52%. Variable-rate and capped-rate mortgages are available for a 60-month term, with a 4.74% and a 4.99% APR respectively.

You can book an appointment online to apply for a mortgage from the National Bank of Canada. You can also pre-qualify for a mortgage by filling out a mortgage pre-approval form on the National Bank of Canada website.

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

To estimate the approximate mortgage payments you’ll have to make; you can use the mortgage payment calculator. Along with the estimated regular payment amount, this tool can give you a hint about the other repayment schedules available.

National Bank of Canada mortgage calculators

The National Bank of Canada provides several mortgage calculators on its website:

  • Mortgage affordability calculator to estimate how much you can afford to spend on your mortgage

  • Mortgage payment calculator to estimate your payment amount given the property price, down payment you can afford, APR, and the amortization period

  • Rent vs. buy calculator to identify what is more beneficial for you in the long run — to buy or to rent a house

  • Mortgage prepayment calculator to identify prepayment charges you may face when paying off your mortgage before the maturity

Why do you need the National Bank of Canada mortgage calculator?

Once you have the key mortgage parameters in mind — the property price, down payment you can afford, APR, and amortization period — you can estimate how much your monthly payment will be. To calculate your regular payment, just enter the figures mentioned above into the mortgage payment calculator. As a result, you will see the estimated monthly payment and suggestions on how to save on interest and repay your mortgage faster. With these calculations, you can make informed decisions on your household budget.

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 NBC Mortgage Specialist. 

How to use the National Bank of Canada mortgage calculator?

Let’s assume you want to purchase a property for $150,000. If you make a down payment of $12,000, your mortgage loan amount will be $143,520. With a 6.13% APR and a 25-year amortization period, your monthly payment will be $929.37. Along with that, you will see the two other payment options available:

  • Paying $464.68 every two weeks to save $26,160.47, with a repayment period of 20 years, 11 months

  • Paying $232.34 per week to save $26,453.3, with a repayment period of 20 years, 11 months

How to compare National Bank of Canada mortgages using the mortgage calculator?

By adjusting the values you enter into the mortgage payment calculator, you can compare different mortgage options and select the one that works best for you in terms of the regular payment amount and/or interest saved.

Alexandra V
Editor
Alexandra V
09.11.2022
06.02.2023

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