MORTGAGE EXAMPLES

Mortgage Examples

Jenn Byatt of RBC can help you understand your mortgage options on your purchase of Maija London unit. Here are some scenarios to give you an idea of how affordable you Maija London home can be.

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Down payment 20%,

30 year amortization

Scenarios based on Variable rate closed term at prime -.55% (Prime rate as of October 30th, 2018 is 3.95% and is subject to change without notice)

Purchase price $329,900
Down payment$65,980
Mortgage$263,920
Monthly principal and interest payments$1,167
Purchase price$429,000
Down payment$85,800
Mortgage$343,200
Monthly principal and interest payments$1,518
Purchase price$554,900
Down payment$110,980
Mortgage$443,920
Monthly principal and interest payments$1,963

Down payment 10%,

25 year amortization

Scenarios based on Variable rate closed term at prime -.55% (prime as of October 30th, 2018 is 3.95% and is subject to change without notice)

Purchase price$329,900
Down payment$32,990
Mortgage*$306,114
Monthly principal and interest payments$1,512
Purchase price$429,000
Down payment$42,900
Mortgage*$398,069
Monthly principal and interest payments$1,966
Purchase price$554,900
Down payment$55,490
Mortgage*$514,892
Monthly principal and interest payments$2,544

* includes CMHC Insurance premium

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