Dominion Lending Centres Mortgage Evolution - Patricia Collins                  patricia@patriciacollins.ca | Cel: 604.996.7701 | Fax: 1.877.554.0116 | Follow Me: Facebook Facebook Twitter Tumblr

Mortgage and Financial Planning Calculators

CALL or Email now with any questions or to sit down with me and walk through these calculations and scenarios together!  604-996-7701 or email patricia@patriciacollins.ca

Purchase

Mortgage Loan Calculator

Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay, and your principal balances. You can even determine the impact of any principal prepayments! Press the report button for a full amortization schedule, either by year or by month.

Bi-weekly Payment Calculator

This calculator shows you the possible savings by using an accelerated bi-weekly mortgage payment. Bi-weekly payments accelerate your mortgage payoff by paying 1/2 of your normal monthly payment every two weeks. By the end of each year, you will have paid the equivalent of 13 monthly payments instead of 12. This simple technique can shave years off your mortgage and save you thousands of dollars in interest.

Mortgage Comparison Calculator

Determining which mortgage provides you with the best value involves more than simply comparing monthly payments. Use this calculator to sort through the monthly payments, fees and other costs associated with getting a mortgage. By comparing these important variables side by side, this calculator can help you pick the mortgage that works best for you. Click on the 'View Report' button to see the results in detail.

Mortgage Qualifier Calculator

The first steps in buying a house are ensuring you can afford to pay at least 5% of the purchase price of the home as a down payment and determining your budget. This calculator steps you through the process of finding out how much you can borrow. Fill in the entry fields and click on the payment schedule button to see a complete amortization schedule of your mortgage payments.

Rent vs. Buy Calculator

Should you rent or should you buy your home? It takes more than looking at your mortgage payment to answer this question. The first steps in buying a house are ensuring you can afford to place at least 5% of the purchase price of the home as a down payment and determining your budget. This calculator helps you weed through the fees, taxes and monthly payments to help you make a good financial decision.

Prepayment Calculators

Calculate the penalty your bank or institution will charge for you to payout your mortgage early.  Often this penalty will be very worthwhile if you will save enough on a new mortgage rate or debt consolidation plan.

 

Refinance

Refinance Interest Savings

How much interest can you save if you refinance your mortgage? This calculator helps you find out! Enter the specifics about your current mortgage, along with new loan amortization, rate and closing costs. We will then determine how much interest refinancing can save you.

Mortgage Payoff Calculator

How much interest can you save by increasing your mortgage payment? This financial calculator helps you find out. View the report to see a complete amortization payment schedule, and how much you can save on your mortgage!

 

Home Equity

Credit Line Calculator

Use this calculator to determine the home equity line of credit amount you may qualify to receive. The line of credit is based on a percentage of the value of your home. The more your home is worth, the larger the line of credit. Of course, the final line of credit you receive will take into account any outstanding mortgages you might have. This includes first mortgages, second mortgages and any other debt you have secured by your home.

 

Financial Planning

Home Budget Analysis

Managing your monthly budget can be difficult and frustrating. One of the most important aspects of controlling your budget is to determine where your money is going. This calculator helps you do just that. By entering your income and monthly expenditures, you can see how much you have left to save and where your money is being spent. In addition, you can click the 'View Report' button to compare your budget breakdown to our targets, which can help identify areas for improvement.

Accelerated Debt Payoff

Consolidating your debt is only half of the battle. You still need a plan to get your debt paid in full. This calculator can show you how to accelerate your debt payoff. The process is simple; just apply a portion of your consolidated loan's monthly payment savings to the consolidated loan's balance. You can save hundreds, even thousands in interest and shave years off of your loan!

Compare Savings Rates

Even a small difference in the interest you are paid on your savings can add up over time. Use this calculator to see how different savings rates can impact your savings strategy! This calculator can also show you how deposits at the start of each month, compared to the end of the month, can impact your savings balance.

Consolidation Loan Investment

Getting a consolidation loan can do more than payoff your debt. You can create a sizable nest egg by investing all or a portion of your monthly payment savings. After a few years the results may surprise you! Use this calculator to see the results of paying off your debt and investing your payment savings. Click the 'View Report' button for a detailed look at your results.

Cool Million

What might it take to save one million dollars? This financial calculator helps you find out. Enter in your current savings plan and graphically view your financial results for each year until you retire. Press the 'View Report' button for a report that helps you see when you might hit your cool million - and what you might be able to do to possibly achieve this goal.

Education Savings

Saving for your children's education requires a long-term plan. And, like saving for retirement, the earlier you start your plan the better. Use this calculator to help develop or fine-tune your education savings plan. Click the 'View Report' button for a detailed look at the results.

How much is enough to fund my retirement?

Use this calculator to help you determine how long your investment savings might last. Enter your current savings plan in the contributions section of the calculator, and your withdrawal needs in the withdrawal section. This calculator will then plot your investment savings total year-by-year. You can then determine how much your investment savings could be worth, and how long it might last.

Investment Goal Calculator

What will it take to reach your investment goal? Use this investment goal calculator to determine how much your investment might grow before taxes, after taxes and after taxes and inflation. It will also provide suggestions on what to change if your plan doesn't look like it will meet your investment goal.