*The estimated monthly mortgage payment displayed with each listing, is calculated using the following basic values:
- 5% Down-payment on the first $500,000 of the total asking price.
- 10% Down-payment on the remainder, for any property over $500,000
- 2.15% Interest rate, with an amortization period of 25 years. Note that 2.15% represents the current variable prime lending rate average, and is subject to change regularly.
- 12 payments per year.
Every individual mortgage is different, and your monthly payment amount will be different from this basic estimation depending on your individual situation.
Find a Mortgage That Fits!
At 2% Realty, we recommend contacting a Mortgage Broker to find the best mortgage to fit your budget. While many people attain mortgage financing directly from their bank, a Mortgage Broker can help you evaluate a wider range of options than you will find with a typical bank. Down-payment requirements, CMHC insurance, variable vs. fixed interest rates - these all will impact your total monthly mortgage amount, and the advice of a licensed expert can be extremely valuable.
Visit www.advancedmls.ca to find out more.