TORONTO, November 25, 2009 -- Today, Kanetix® (www.kanetix.ca), Canadas marketplace for comparing insurance quotes and mortgage rates, announced the launch of a new mortgage payments calculator. Now Canadians shopping for a mortgage can not only compare competing mortgage rates but also use the calculator tool to see how the various rates will affect the details of the mortgage they are seeking.
The aim of the Kanetix website is to help consumers save money by offering them easy access to comparison shopping for both mortgages and insurance. Having recently rounded out the online tool selection with a mortgage rate comparison calculator, Kanetix expects to help consumers even further in their search for savings. The new calculator gives shoppers looking to compare mortgage rates an opportunity to enter any purchase price, down payment, mortgage length, interest rate and payment frequency. With a simple click of the calculate button, a consumer can use the tool to:
automatically calculate the approximate payment to be made according to the payment frequency selected,
roughly how much interest they'll end up paying, and
when the mortgage loan will be paid off.
An added feature will tell a user how much money they could save by selecting 'Bi-weekly accelerated payments' over 'Monthly payments' as their payment frequency option.
Using the online mortgage calculator is free, doesnt require the user to sign up, and results are instantly viewable online at www.kanetix.ca.
While the mortgage rate calculator tool is incredibly helpful, it does not replace speaking with a specialist. Kanetix.ca encourages shoppers to talk with a qualified mortgage broker to discuss how various payment frequencies and mortgage rates will affect their specific needs, as everyones personal situations may vary.
Launched in October 1999, Kanetix is Canadas leading national, online insurance and mortgage marketplace. The Kanetix insurance and mortgage shopping service brings together insurance companies and mortgage suppliers in a one-stop shopping environment for consumers looking to save money. Each day, thousands of consumers visit the Kanetix website at www.kanetix.ca to compare insurance and mortgage quotes from a variety of Canadian insurance and mortgage suppliers. Users select the product of their choice, obtain a quotation and complete an online application or, with the help of Kanetix connect with the insurance or mortgage supplier and purchase the product over the phone.
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