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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.

Queenston Cottage Bungalow: $199,000 (brief)

Price 199,000 199,000 199,000
Downpayment Amount 9,950 19,900 49,750
Downpayment % 5% 10% 25%
Total Monthly Payment 1,482 1,411 1,178
Annual Income Required 55,581 52,902 44,180

Queenston Cottage Bungalow: $199,000 (detailed)

Price 199,000 199,000 199,000
Downpayment Amount 9,950 19,900 49,750
Downpayment % 5% 10% 25%
Interest Rate 7.00% 7.00% 7.00%
Amortization 25 years 25 years 25 years
Mortgage 189,050 179,100 149,250
Insurance Premium 4,726 4,478 1,119
Total Mortgage 193,776 183,577 150,369
Monthly Prin. + Int. 1,357 1,286 1,053
Monthly Taxes 125 125 125
Total Monthly Payment 1,482 1,411 1,178
Annual Income Required 55,581 52,902 44,180





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TRILLIUM LANE REALTY LTD.