{"id":1412,"date":"2022-06-10T16:27:22","date_gmt":"2022-06-10T16:27:22","guid":{"rendered":"https:\/\/samansari.com\/?page_id=1412"},"modified":"2025-07-26T18:10:47","modified_gmt":"2025-07-26T18:10:47","slug":"mortgage-calculators-2","status":"publish","type":"page","link":"https:\/\/samansari.com\/index.php\/mortgage-calculators-2\/","title":{"rendered":"Mortgage Calculators"},"content":{"rendered":"\n<p><strong>As of December 15, 2024,<\/strong>&nbsp;if your down payment is less than 20% of your home\u2019s price, your maximum amortization period is:<\/p>\n\n\n\n<ul>\n<li>30 years if you\u2019re:\n<ul>\n<li>a first-time homebuyer&nbsp;<strong>or<\/strong><\/li>\n\n\n\n<li>purchasing a new build<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>25 years in all other cases<\/li>\n<\/ul>\n\n\n\n<p>If your down payment is more than 20% of your home\u2019s price, your lender sets your maximum amortization period.<\/p>\n\n\n\n<div id=\"mortgage-calculator\">\n    <h2>Mortgage Affordability Calculator (Canada)<\/h2>\n    <label>Gross Annual Income (CAD): <input type=\"number\" id=\"income\"><\/label><br>\n    <label>Down Payment (CAD): <input type=\"number\" id=\"downPayment\"><\/label><br>\n    <label>Interest Rate (%): <input type=\"number\" step=\"0.01\" id=\"interestRate\"><\/label><br>\n    <label>Amortization Period (Years): <input type=\"number\" id=\"amortization\"><\/label><br>\n    <label>Estimated Property Taxes (Annual CAD): <input type=\"number\" id=\"taxes\"><\/label><br>\n    <label>Heating Costs (Monthly CAD): <input type=\"number\" id=\"heating\"><\/label><br>\n    <label>Monthly Debt Payments (CAD): <input type=\"number\" id=\"debt\"><\/label><br>\n    <button onclick=\"calculateAffordability()\">Calculate<\/button>\n    <p id=\"result\"><\/p>\n  <\/div>\n\n  <script>\n    function calculateAffordability() {\n      const income = parseFloat(document.getElementById('income').value);\n      const downPayment = parseFloat(document.getElementById('downPayment').value);\n      const interestRate = parseFloat(document.getElementById('interestRate').value) \/ 100 \/ 12;\n      const amortization = parseFloat(document.getElementById('amortization').value) * 12;\n      const taxes = parseFloat(document.getElementById('taxes').value) \/ 12;\n      const heating = parseFloat(document.getElementById('heating').value);\n      const debt = parseFloat(document.getElementById('debt').value);\n\n      const maxGDS = income \/ 12 * 0.39;\n      const maxTDS = income \/ 12 * 0.44;\n      const housingCosts = taxes + heating;\n      const maxMortgagePayment = maxGDS - housingCosts;\n\n      const mortgageAmount = (maxMortgagePayment * (Math.pow(1 + interestRate, amortization) - 1)) \/ (interestRate * Math.pow(1 + interestRate, amortization));\n      const totalHomePrice = mortgageAmount + downPayment;\n      const tdsRatio = ((maxMortgagePayment + housingCosts + debt) \/ (income \/ 12)) * 100;\n\n      document.getElementById('result').innerHTML =\n        `\ud83c\udfe0 Estimated Maximum Home Price: $${totalHomePrice.toFixed(2)}<br>` +\n        `\ud83d\udcca TDS Ratio: ${tdsRatio.toFixed(2)}%<br>` +\n        (tdsRatio <= 44\n          ? \"\u2705 You may qualify based on Canadian affordability guidelines.\"\n          : \"\u26a0\ufe0f Your TDS ratio may exceed the recommended limit.\");\n    }\n  <\/script>\n  <?php\n  return ob_get_clean();\n}\nadd_shortcode('mortgage_calculator', 'mortgage_affordability_calculator');\n\n\n\n<p><\/p>\n\n\n\nfunction mortgage_payment_calculator() {\n  ob_start(); ?>\n  <div id=\"mortgage-calculator\">\n    <h2>Mortgage Payment Calculator<\/h2>\n    <label>Home Price (CAD): <input type=\"number\" id=\"homePrice\"><\/label><br>\n    <label>Down Payment (%): <input type=\"number\" id=\"downPayment\" value=\"20\"><\/label><br>\n    <label>Interest Rate (%): <input type=\"number\" step=\"0.01\" id=\"interestRate\"><\/label><br>\n    <label>Amortization Period (Years): <input type=\"number\" id=\"amortization\" value=\"25\"><\/label><br>\n    <button onclick=\"calculateMortgage()\">Calculate<\/button>\n    <p id=\"mortgageResult\"><\/p>\n  <\/div>\n\n  <script>\n    function calculateMortgage() {\n      const price = parseFloat(document.getElementById('homePrice').value);\n      const downPercent = parseFloat(document.getElementById('downPayment').value);\n      const rate = parseFloat(document.getElementById('interestRate').value) \/ 100 \/ 12;\n      const years = parseFloat(document.getElementById('amortization').value);\n      const months = years * 12;\n\n      const downPayment = price * (downPercent \/ 100);\n      const loanAmount = price - downPayment;\n\n      const monthlyPayment = loanAmount * rate * Math.pow((1 + rate), months) \/ (Math.pow((1 + rate), months) - 1);\n\n      document.getElementById('mortgageResult').innerHTML =\n        `\ud83d\udccc Loan Amount: $${loanAmount.toFixed(2)}<br>` +\n        `\ud83d\udcb8 Monthly Payment: $${monthlyPayment.toFixed(2)}<br>` +\n        `\ud83d\udcc5 Total Payments over ${years} years: $${(monthlyPayment * months).toFixed(2)}`;\n    }\n  <\/script>\n  <?php\n  return ob_get_clean();\n}\nadd_shortcode('mortgage_calculator', 'mortgage_payment_calculator');\n\n\n\n\n\n\n","protected":false},"excerpt":{"rendered":"<p>As of December 15, 2024,&nbsp;if your down payment is less than 20% of your home\u2019s price, your maximum amortization period is: If your down payment is more than 20% of your home\u2019s price, your lender sets your maximum amortization period. Mortgage Affordability Calculator (Canada) Gross Annual Income (CAD): Down Payment (CAD): Interest Rate (%): Amortization [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"_links":{"self":[{"href":"https:\/\/samansari.com\/index.php\/wp-json\/wp\/v2\/pages\/1412"}],"collection":[{"href":"https:\/\/samansari.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/samansari.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/samansari.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/samansari.com\/index.php\/wp-json\/wp\/v2\/comments?post=1412"}],"version-history":[{"count":12,"href":"https:\/\/samansari.com\/index.php\/wp-json\/wp\/v2\/pages\/1412\/revisions"}],"predecessor-version":[{"id":1499,"href":"https:\/\/samansari.com\/index.php\/wp-json\/wp\/v2\/pages\/1412\/revisions\/1499"}],"wp:attachment":[{"href":"https:\/\/samansari.com\/index.php\/wp-json\/wp\/v2\/media?parent=1412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}