financing banks and mortgage brokers Cranbrook BC

FINANCING YOUR PURCHASE

CRANBROOK LOCAL BANKS

Royal Bank of Canada:

Contacts: Sharon McDowell 250-417-6984, Trena Neid 250-417-7879

CIBC: Contact person: Crissa Mackay 250-505-4244

East Kootenay Community Credit Union:

Contact person: Kyle Langille 250-417-4519

CRANBROOK MORTGAGE BROKERS

Gatsby Mortgage - Contact person: Lona Benjamin 250-489-4512

Blue Tree Mortgages - Contact person: Pam Rousson 250-417-1226

Mortgage Alliance - Contact person: Rima Amaechi 250-489-9609

Mortgage Broker - Contact Person: Steve Macdonald 250-919-5118

DLC Canadian Mortgage Experts:

Contacts:

Debra Parker 250- 421-7600

Kambi Heywood 250-421-0540

Andrew Ladriere 250-919-5474

Mortgage brokers in Cranbrook

Let us help you find out what you can afford! Our mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting or buying.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link.

Required Fields
	Required term in years Must be a number between 1 and 50
Term In Years:
	Required interest rate Must be a number between 1 and 100
Interest Rate:	%
	Required cost of home
Cost of Home:	$
	Required down payment Cannot be more than Cost of Home
Down Payment:	$
	Required annual insurance
Annual Insurance:	$
	Estimate Insurance to 0.43% of Cost
	Required annual property tax
Annual Property Tax:	$
	Estimate Tax to 1.2% of Cost
	Required monthly income
Monthly Income:	$
	Required monthly debt
Monthly Debt:	$
Optional Fields
Gross Debt Service Ratio (GDS):
Total Debt Service Ratio (TDS):
Condos Fees:	$

Results

Receive this Detailed Analysis

Mortgage
Qualification
Affordability
Rent vs Buy

Your Monthly Payments

Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:

Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:

Income Needed to Qualify for the Mortgage

Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:

What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:

Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)

Renting
Monthly Rent: $	RequiredMust be a positive number
Annual Rental Increases:	RequiredInvalid%
Monthly Renter Insurance: $	RequiredInvalid
Savings or Investment Rate:	RequiredInvalid%

Owning
Planned # of years in home:	RequiredInvalid
Yearly appreciation of the home:	RequiredInvalid%
Annual home maintenance:	RequiredInvalid%