Mortgage Payments & Closing Costs

The PROPERTY YOU select

$2,800.00

Estimated Property Taxes 2011

Down Payment

5%

10%

15%

20%

Purchase Price

425,000

425,000

425,000

425,000

Down Payment

21,250

42,500

63,750

85,000

First Mortgage

403,750

382,500

361,250

340,000

CMHC Ins. (3.25% on 5%, 2.00% on 10% & 1.75% on 15%)

13,122

7,650

6,322

416,872

390,150

367,572

1,751

1,717

1,544

1,428

233

233

233

233

Total Mortgage incl. CMHC

>Monthly Payment (P&I @3.60% - 5yr/35yr amort)
Estimated Property Taxes (Monthly)
>Condo Maintenance Fee (if applicable)
Total Monthly Investment (P&I +Tax + Condo Fee)
Annual Income Required @33% GDS

400

400

400

400

2,384

2,350

2,177

2,061

79,425

78,182

71,896

67,685

Estimated Closing Costs

Property Inpection

350

350

350

350

Title Insurance

400

400

400

400

Ontario Land Transfer Tax

4,975

4,975

4,975

4,975

Toronto Land Transfer Tax

4,225

4,225

4,225

4,225

CMHC (PST)

1,050

612

506

Legal Fee & Disbursements

1,200

1,200

1,200

1,200

12,200

11,762

11,656

11,150

Total Estimated Closing Costs

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