Mortgage Payments & Closing Costs

Any house you buy

$3,500.00

Estimated Property Taxes 2012

Down Payment

5%

10%

15%

20%

Purchase Price

450,000

450,000

450,000

450,000

Down Payment

22,500

45,000

67,500

90,000

First Mortgage

427,500

405,000

382,500

360,000

CMHC Ins. (4.25% on 5%, 4.25% on 10% & 3.50% on 15%)

18,169

17,213

13,388

445,669

422,213

395,888

2,656

2,516

2,359

2,145

292

292

292

292

Total Mortgage incl. CMHC

>Monthly Payment (P&I @5.24% - 5yr/25yr amort)
Estimated Property Taxes (Monthly)
>Condo Maintenance Fee (if applicable)
Total Monthly Investment (P&I +Tax + Condo Fee)
Annual Income Required @33% GDS

2,947

2,808

2,651

2,437

107,182

102,099

96,394

88,617

Estimated Closing Costs

Property Inpection

400

400

400

400

Title Insurance

400

400

400

400

Ontario Land Transfer Tax

5,475

5,475

5,475

5,475

Toronto Land Transfer Tax

4,725

4,725

4,725

4,725

CMHC (PST)

1,454

1,377

1,071

Legal Fee & Disbursements

1,200

1,200

1,200

1,200

13,654

13,577

13,271

12,200

Total Estimated Closing Costs

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