Rate Locator

RateLocator.ca - Interactive Mortgage Hub

Loan Type
Property
Loan Details
User Details
Results

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What type of loan do you need?

Residential Property Details

Tell us more about the property.

Property Location

Occupancy Status

Loan Details

Provide the specifics of your loan request.

Amount Requested ($500,000)

Estimated Property Value ($750,000)

Amortization Period

Mortgage Position

Your Details

A few final pieces of information.

Click Me

Your Estimated Monthly Payment

Principal & Interest
Est. Property Tax
Est. Home Insurance

Loan Amount

Total Interest Paid

Total Cost of Loan

Amortization Schedule

Month	Interest	Principal	Remaining Balance

Thank You!

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Frequently Asked Questions

What is the mortgage stress test?

The mortgage stress test requires that your lender check if you could still afford your mortgage payments if interest rates were to rise. You must qualify at the higher of either 5.25% or your mortgage contract rate plus 2%.

How much down payment do I need?

For properties under $500,000, the minimum is 5%. For properties between $500,000 and $999,999, it's 5% on the first $500,000 and 10% on the rest. For properties $1 million or over, the minimum is 20%.

Fixed vs. Variable Rate?

A fixed-rate mortgage locks in your interest rate for the entire term, so your payments never change. A variable-rate mortgage fluctuates with the lender's prime rate, so your payments could change.