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Amortization Calculator
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Amortization Calculator Kitchener – Access Mortgage

An amortization calculator for Kitchener lets you estimate your monthly loan repayments. It also determines out how much of your repayments will go towards the principal and how much will go towards interest. Most commonly used for mortgage loans, an amortization calculator can also be a great tool for people wanting to get a look at how much they will be paying, or can pay, for their monthly mortgage payments. The great advantage of amortization is that you know how much you have to pay each month, under a fixed interest rate, to finish paying off the loan at a specific time.

 

Mortgage Loans & Amortization:

When you take out a mortgage, you make a monthly payment to the lender, and that is usually an amortized payment. A part of the payment covers the interest due on the loan, and the remainder of the payment goes to reduce the principal amount owed. Interest is computed on the current amount owed and thus will become progressively smaller as the principal is decreased. In the beginning, you will be making large interest payments and small payments to the principal. As time goes on, you will reduce the principal to the point that you haven’t got much to pay in interest, and so your payment covers mostly the principal. Amortization calculators can show you how your mortgage payments will break down. You can see how much goes towards the interest of the loan and how much goes to the principal.

 

Why use an Amortization Calculator?

The biggest benefit to using an amortization calculator is that it’s a great starting point for figuring out where you stand when it comes to mortgage preparations. Getting a mortgage is daunting, especially if you have poor credit or unprovable income. Many prospective home buyers aren’t always prepared, and not because they’re averse to planning ahead, but because they don’t know where to start. Even if you call a mortgage broker before doing anything else, the broker needs information on your net income and expenses in order to find the most suitable mortgage product available. The Amortization Calculator on our website at Access Mortgage can give you a good place to start while in the comfort of your own home, and if it turns out that you need a little bit more financial preparation than you thought, then go back to the drawing board.

For more information about an amortization calculator in Kitchen at Access Mortgage, please feel free to continue browsing through our website. Also, check out our blog for more interesting content! We can be reached at 1-844-397-3780 or by filling out our contact form.

WHAT PEOPLE ARE SAYING…

  • “Rent-to-own made possible”
    We would like to thank Matthew and his team. We put a lot of money down on a Rent to Own property that we were renting, but we could not get anyone to help us out till we found Mathew. He made it happen and closed on time when know no one else could. From all of us here THANK YOU! We now own our own house!

    C.T., HAMILTON, ON
  • “Best Mortgage Team I've worked with”
    Matthew and his team are the best mortgage team I have ever worked with. They are extremely hard working and bend over backwards to get the job done no matter how complicated or difficult. If there is a way – they will find it. And it will be in YOUR favor. Matthew goes out of his way to set you on a path of success. This is our second mortgage process we have gone through with Matthew, and we are in a better position now than we were the 1st time – all due to Matthews efforts and guidance. After following his recommendations and guidance over the next year we will use Matthew again for our next mortgage and be in an even better position then. If you need a mortgage done, no matter how complicated, call Matthew. He’ll make it happen.

    M.Z. BRANTFORD, ON
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    Matthew’s knowledge, experience and above and beyond work ethic sets an exemplary standard of professionalism and accountability. His integrity and drive is second to none… He truly is a miracle worker!! I have no hesitation in recommending his services to anyone seeking expert assistance. I’m beyond grateful and blessed!!

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    I just want to say 'thank you' to all of you, especially Matthew. The financial stress started affecting my health and my life. I could not sleep or focus at work. Now it has given me control on my life by connecting me to a great lender. I have gone from being full of stress to being stress-free.

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    I just want to say ‘thank you’ to all of you, especially Matthew. The financial stress started affecting my health and my life. I could not sleep or focus at work. Now Access Mortgage has given me control on my life by connecting me to a great lender. I have gone from being full of stress to being stress-free.

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    Thank you for all the help that you gave me, most patiently and with deep understanding. I was very comfortable asking you everything and anything. Your team did great job in making me understand the financial side. I have learnt a lot. Thanks to Matthew for taking time to come to my place. He not only did his work, but for a short time, took me back to most nostalgic memories of my life, before I came to Canada. I am also grateful to the lawyer for coming to my place to meet with me, and quickly closing the mortgage and releasing the funds.

    S.S., MISSISSAUGA, ON
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    I can’t say enough how great your company has been. Matthew, thank you so much for making all of this process so easy for us. Our bank would not help us and you were amazing. Your company kept us informed every step of the way, and not once were we made to feel inferior like our bank did. The lawyers you set us up with were also awesome. I will highly recommend your company to anyone looking for mortgages. Thank you so much for getting creditors off our back and setting us on the right track. You guys are all amazing. I’m also so impressed that you came to us do to everything.

    K.K.P., HAMILTON, ON
  • “Best mortgage team I’ve worked with!”
    Matthew and his team are the best mortgage team I have ever worked with. They are extremely hard working and bend over backwards to get the job done no matter how complicated or difficult. If there is a way – they will find it. And it will be in your favour. Matthew goes out of his way to set you on a path of success. This is our second mortgage process we have gone through with Matthew, and we are in a better position now than we were the 1st time – all due to Matthews efforts and guidance. After following his recommendations and guidance over the next year we will use Matthew again for our next mortgage and be in an even better position then. If you need a mortgage done, no matter how complicated, call Matthew. He’ll make it happen.

    C.H. - ST. CATHARINES, ON
  • “Extremely Fast!”
    Access Mortgage was extremely fast and explained everything well. We were very happy with their professional service and honesty. I would definitely refer them.

    LISA - BRANTFORD, ON
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