National Bank Mortgage Calculator
Estimate your National Bank mortgage payments
To calculate your National Bank mortgage payment, enter the following into the mortgage payment calculator: The property purchase price (or renewal amount of your mortgage), the amount of your down payment (given that you are purchasing a new home), the desired amortization period and the mortgage rate. Once filled in, the mortgage calculator will estimate your payments.
About National Bank’s Mortgage Rates
National Bank provides its customers with regular fixed-rate and variable-rate mortgages. But it also offers its Made-to-Measure Mortgage, which combines various mortgage financing alternatives to generate a customized solution. With a Made-to-Measure mortgage, you’re able to divide up your mortgage into smaller portions. Each portion can have its own rate, amortization period and payment frequency. This provides you with increased flexibility allowing you to consolidate your debts while keeping track of all your projects separately.
National Bank also provides you with the opportunity to renegotiate one of your mortgage portions without renegotiating the entire loan. Other advantages of National Bank’s Made-to-Measure Mortgage includes the ability to have both fixed and variable rates, amortization periods of different lengths, and a portion of your mortgage be an All-In-One mortgage to take advantage of a line of credit.
National Bank’s All-In-One mortgage line of credit allows you to take out equity as you repay your mortgage, similar to a home equity line of credit. This is done using a collateral charge, meaning the loan is registered for the full value of your property regardless of how much you actually borrow. The lender (in this case National Bank) is able to lend you more money as you pay off of your mortgage, but makes it difficult to transfer your mortgage to another provider or access equity from other lenders.
How to get lower payments
If you’d like to decrease your mortgage payment further, compare National Bank’s mortgage rates against mortgage brokers and other lenders to find the lowest mortgage rate. You may also want to look into increasing the size of your down payment, or increasing the amortization period of your mortgage. Both of these items are in your control and can decrease your mortgage payments.