16 Sep 2015
by Canadian Mortgage App team

Extra Payment Analyzer

Can you pay off your mortgage sooner?

Over the course of your loan’s amortization, you will spend hundreds and thousands of dollars on interest. However, by making a small additional monthly payment towards the principal you can drastically accelerate the term of your loan and can greatly save in interest payments.

The Canadian Mortgage App team has added the Extra Payment Calculator to help you determine how quickly you are able to pay off your loan.

Our calculator helps you determine how making an additional payment can change the term of your loan. You have the option to make extra payments by choosing the dollar amount or by the percentage.  

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16 Sep 2015
by Canadian Mortgage App team

GDS / TDS Calculator

How does it work…

Previously, we told you about the new affordability screen available on the CMA and how it calculates how much you can borrow by using the industry standard debt ratio (GDS/TDS).

To clarify, Gross Debt Service Ratio (GDS) and Total Debt service Ratio (TDS) are the two formulas that lenders use to determine how much they are willing to let you borrow. Let’s explore further what each of these ratios mean and exactly how they are calculated.

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23 Jul 2015
by Canadian Mortgage App team

Affordability

…. with Credibility

Buying a home is one of the biggest and most important investment many of us will ever make. Therefore it’s important to be able to know exactly how much you can afford to borrow for your mortgage before hand whether you are a first time home buyer or looking into getting a second mortgage. The Canadian Mortgage App team has created a new and innovative affordability estimator to help you do just that.

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23 Jun 2015
by Canadian Mortgage App team

Closing Costs

Now available on the CMA

We all know that the expenses, such as legal and administrative fees, associated with the purchase of a home can really add up and many first time home-buyers underestimate the exact amount required. Normally, you would want to allocate about 3-4% of the purchase price for a resale home to cover Closing Costs. In addition to the Closing Costs, there are other expense, fees or events that may require budgeting for when your house closes which can be very stressful to calculate.

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11 Jun 2015
by Canadian Mortgage App team

We did it for Blackberry

We know Blackberry users love their keyboards 🙂

At Bendigi Technologies Inc, we value and appreciate our IOS and Android user and continue to provide them with awesome features on the Canadian Mortgage App because we know mobile usage in Canada is rapidly growing, especially on Smartphones.

Don’t worry BlackBerry users, we didn’t forget about you! We know you love your keyboards and we love you, so we wanted to make sure that BlackBerry users also get to experience and enjoy the #1 Ranked mortgage app in Canada.

It wasn’t easy……but we are proud to announce that the Canadian Mortgage App is now available for Blackberry.

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26 Apr 2015
by Canadian Mortgage App team

Amazing milestone!

The Canadian Mortgage App has now reached 5,000,000 screen-views. We couldn’t have done it without you! Thank you for your continual support in making us the #1 ranked mortgage app in Canada.

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