# Mortgage Savings Calculator



## kubatron (Jan 17, 2011)

Interesting calculator from Office of Consumer Affairs.

http://www.ic.gc.ca/eic/site/oca-bc.nsf/eng/ca01817.html


----------



## Shayne (Apr 3, 2009)

It is definitely better than other calculators on the internet. 

People need proper counsel for refinancing as a majority of the calculators on the internet are misleading.

I have not met one person who can get the math and the logic behind refinancing correct.


----------



## kubatron (Jan 17, 2011)

What I don't get is why 99.99999% of payment calcualtors don't include CMHC.

I'm no programmer whiz but would think it's not that hard.

I envision a calculator that does this:

Purchase price

Down payment

Payment INCLUDING cmhc.

Yet, I can't find one.


----------



## Shayne (Apr 3, 2009)

kubatron said:


> What I don't get is why 99.99999% of payment calcualtors don't include CMHC.
> 
> I'm no programmer whiz but would think it's not that hard.
> 
> ...



There are not to many around. I give all my clients a custom calculator I made in excel for their home purchasing budget. They love it.

Unfortunately you can't accurately calculate the CMHC if you don't include amortization and you can't calculate the payment without a rate. 

Take a look at this http://www.debtfreeby43.com/2010/07/05/mortgage-calculators/comment-page-1/

If you are interested in me customizing it let me know.


----------

