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Payments

Monthly payments and income required, based on purchase price and downpayment

The following tables will show you what your monthly payments would be, and the income required, based on your purchase price and downpayment.

Note that these tables are examples based on an interest rate of 7.00% and an amortization period of 25 years. Coming soon: you will be able to add your own customized columns to the charts. There may be other expenses not covered in this example, such as common fees for condominiums.

Niagara-on-the-Lake Bungalow: $187,000 (brief)

Price 187,000 187,000 187,000
Downpayment Amount 9,350 18,700 46,750
Downpayment % 5% 10% 25%
Total Monthly Payment 1,427 1,360 1,141
Annual Income Required 53,502 50,985 42,789

Niagara-on-the-Lake Bungalow: $187,000 (detailed)

Price 187,000 187,000 187,000
Downpayment Amount 9,350 18,700 46,750
Downpayment % 5% 10% 25%
Interest Rate 7.00% 7.00% 7.00%
Amortization 25 years 25 years 25 years
Mortgage 177,650 168,300 140,250
Insurance Premium 4,441 4,208 1,052
Total Mortgage 182,091 172,508 141,302
Monthly Prin. + Int. 1,275 1,208 990
Monthly Taxes 151 151 151
Total Monthly Payment 1,427 1,360 1,141
Annual Income Required 53,502 50,985 42,789





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TRILLIUM LANE REALTY LTD.