Mortgage Payment Calculator Answers Home Buying Costs

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A mortgage payment calculator with a difference has just been introduced by the RateHub.ca, a Canada-based mortgage comparison website.

Mortgage payment calculator is being introduced by Ratehub.com, the mortgage comparison site which promises a triad of lowest mortgage rates, complete mortgage clarity and financial truth in offering mortgage comparison service to Canadians.

While mortgage calculators are by no means new, the novel mortgage payment calculator from RateHub.ca is being introduced to address the shortcomings of most previous tools of its kin thereby addressing the questions paramount in the minds of first time buyers.

It is a known fact that up to ninety percent of first time Mortgage buyers turn the internet for information, very often, they access incorrect or incomplete information. This is due to fact that most calculators neglect many important areas that affect the final figures.

Prominent among previously ignored areas well covered in the new calculator are hidden charges like land transfer tax and the mandatory CMHC insurance.

On offer with the calculator is ability to compare various parameters paramount in the minds of first time buyers like amortization periods, down payment amounts, payment frequencies and other financing scenarios all possible simultaneously.

There are other options like choosing to either enter a property price before calculating what monthly payments would be or tow the route of entering their maximum home price affordable using the affordability calculator.

All calculations are simplified by pop-ups that clarify issues as well as schedules which highlight monthly expenses, cash money needed at closing, amortization schedule and more.