Discover Daytona Financial Solutions

Want to own a home but not sure where to start?

Daytona Homes, we are committed to helping you into home ownership. There are endless possibilities for every financial picture.

Have you determined how much you can afford?

The first step to finding your future home is figuring out what you can afford. Only then can we assess what home is best for you and your family. With help from our mortgage calculators, we can determine a general price range and match you with the home that is right for you.

Using the mortgage affordability calculator and answering a few questions about your financial picture, we can discover what you can afford based off of your debt service ratio.

Once you’ve figured out what you can afford, our mortgage payment calculator will help you learn what your monthly or bi-weekly payments will look like.

If you have any questions about our mortgage calculators, please fill out the form below or chat with our online counsellor.

Affordability Calculator

Mortgage Payment Calculator

Mortgage Payment Calculator
Payment ChartYear 1Year 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10Year 11Year 12Year 13Year 14Year 15Year 16Year 17Year 18Year 19Year 20Year 21Year 22Year 23Year 24Year 2525y 1m
YearsBalanceTotal PaidPrincipal PaidInterest Paid
Year 1244,806.8817,448.125,193.1212,255
Year 2239,350.8634,896.2410,649.1424,247.1
Year 3233,618.6252,344.3616,381.3835,962.98
Year 4227,596.1969,792.4822,403.8147,388.67
Year 5221,268.8887,240.628,731.1258,509.48
Year 6214,621.27104,688.7235,378.7369,309.99
Year 7207,637.11122,136.8442,362.8979,773.95
Year 8200,299.38139,584.9649,700.6289,884.34
Year 9192,590.18157,033.0857,409.8299,623.26
Year 10184,490.69174,481.265,509.31108,971.89
Year 11175,981.15191,929.3274,018.85117,910.47
Year 12167,040.81209,377.4482,959.19126,418.25
Year 13157,647.89226,825.5692,352.11134,473.45
Year 14147,779.44244,273.68102,220.56142,053.12
Year 15137,411.43261,721.8112,588.57149,133.23
Year 16126,518.52279,169.92123,481.48155,688.44
Year 17115,074.16296,618.04134,925.84161,692.2
Year 18103,050.44314,066.16146,949.56167,116.6
Year 1990,418.03331,514.28159,581.97171,932.31
Year 2077,146.09348,962.4172,853.91176,108.49
Year 2163,202.24366,410.52186,797.76179,612.76
Year 2248,552.5383,858.64201,447.5182,411.14
Year 2333,161.11401,306.76216,838.89184,467.87
Year 2416,990.52418,754.88233,009.48185,745.4
Year 251.3436,203249,998.7186,204.3
25y 1m0436,204.32250,000.01186,204.31


Do you have your down payment?

Now that you've found out what you can afford with our mortgage calculators, the next step is to see if you have the minimum 5% down payment saved. If you don’t, we're here to help.

For any assistance or to create a personalized savings plan, please fill out the form below or chat with our online counsellor.

Down Payment Savings Program

If you are close to having a full down payment but need a few more months to save, we will work with you using our Down Payment Savings Program and start building your Daytona home today. By the time you are finished saving, your new home will be ready for you.

Tips on Boosting Down Payment

Want to save for your down payment faster? Here are some things to consider:

  • RRSP: First time homebuyers can withdraw up to $25,000 from their RRSP without penalties.
  • TFSA: Save money faster with a Tax Free Savings Account and incur no penalties for withdrawals.
  • Gift: Your immediate family members (parents, grandparents, siblings) may gift you money to help with your down payment as long as it is given with a gift letter.
  • Refund: If you get money back from your spring tax return, allocate it to your down payment.
  • Line of credit: Your down payment may come from a line of credit if you qualify. This loan will count against you in your debt service ratio.
  • Additional Incomes: Consider turning a hobby into an additional source of income, such as selling products or services.


Have you been pre-approved for a mortgage

With your down payment taken care of, the next step is talking to one of our preferred mortgage specialists and getting pre-approved. Pre-approval will provide you with the specific mortgage amount and lock in a rate in case they increase during your home search. Being pre-approved at the beginning of the home buying journey keeps the process moving smoothly and ensures that we are able to find a home that fits your life best.

To get pre-approved today and talk to one of our preferred mortgage specialists, please fill out the form below or chat with our online counsellor.

What You Will Need For the Pre-Approval Process

  • Your personal information, including SIN and government-issued photo identification (driver's license, passport).
  • Proof of employment, including confirmation of salary in a letter from your employer.
  • Any other sources of income information (current paystub, last two years of T4s, Notice of Assessments).
  • Details of all bank accounts, loans and other debts.
  • Proof of financial assets (savings, investments, vehicles, properties, etc.).
  • Housing history such as history of rent paid or information on other properties that you may own.
  • Source and amount of down payment (RRSP or investment statements, bank account statements, gift letter, etc.).


How can you improve your financial picture?

We have created several resources to help improve your financial picture. These are long-term and short-term tools that are designed to increase you potential mortgage amount and get you into the home you want.

If you have any questions about these resources or would like to discuss a personalized savings solution, please fill out the form below or chat with our online counsellor.

Tips and Tricks

  • Consolidate existing debt to bring payments down.
  • Pay down high balances on credit cards and lines of credit.
  • Get assistance with removing errors from your bureau, if you have any.
  • Ensure you aren’t missing any payments on loans or credit cards and that you are paying on time.
  • Try to avoid closing any credit card accounts.
  • Avoid taking out new loans such as vehicle financing.

Consultations and Personal Savings Solutions

We will work with you and our preferred mortgage specialists to help provide personalized savings solutions so that you will be able to purchase a Daytona home in the future.


Do you have a home to sell?

If you already own and are looking to buy your next home, Daytona Homes can assist by putting you in touch with our network of trusted realtors.

To start the process, please fill out the form below or chat with our online counsellor.

Realtor Services That Daytona Can Offer

Daytona also offers a number of services to help sell your home. Please note that the services listed below vary between divisions and may not be available in every city. Please contact our online counsellor to find out what we can offer you. Some restrictions apply.

  • Free home market evaluations by our preferred listing agents.
  • We will build your home while you are in the process of selling your existing home with a non-refundable deposit.
  • Guaranteed sales.
  • For our realtor friends, some centres offer a Preferred Realtor Program.


Home Buyers Resources

Is there anything you still have questions about? Or anything you would like more clarification on? We have several resources below to make the home buying process easier and if you have further questions, please fill out the form below or chat with our online counsellor.

In–House Legal Services

Depending on the circumstance of your purchase, you may have the option to work through our lawyer with us paying all standard fees. You can also retain a lawyer of your own, at your own expense, who would then work with our lawyer. Please note that some lenders require this approach.

When it is possible, using our lawyer facilitates a smooth transition of paperwork and funds resulting in fewer delays because everything occurs in the same office. Our lawyer is familiar with our paperwork and procedures. Because we pay all standard fees, using our lawyer saves you money as well.