3 May

Maureen Seguin’s Pick of the Week – Financing

General

Posted by: Michael Hallett

Asking Price Downpayment
$379,000 5% 10% 20%
Down Payment $18,950.00 $37,900.00 $75,800.00
First Mortgage $360,050.00 $341,100.00 $303,200.00
Insurance Premium $10,621.48 $7,504.20 n/a
Total Mortgage $370,671.48 $348,604.20 $303,200.00
Interest Rate (5 yr term) 3.65% 3.65% 3.65%
Amortization (yrs) 30 30 30
       
Monthly Payments      
Principal & Interest $1,689.94 $1,589.33 $1,382.33
Monthly Property Taxes $98.17 $98.17 $98.17
Total Monthly Payment $1,788.11 $1,687.50 $1,480.50
Monthly Condo/Strata Fees $253.05 $253.05 $253.05
Estimated Monthly Heating $100.00 $100.00 $100.00
Annual Household Income Required $80,293.42

$76,520.63

$68,757.98

Contact me for more options mhallett@dominionlending.ca, 604 616 2266 or michaelhallett.ca

DREAM TODAY. OWN TOMORROW.