Mortgage Payments & Closing Costs

Anyhouse we select in Toronto or Mississauga

Estimated Property Taxes 2009$2,500.00

Down Payment

5%10%15%20%Purchase Price400,000400,000400,000400,000Down Payment20,00040,00060,00080,000First Mortgage380,000360,000340,000320,00012,350 7,2005,950Total Mortgage incl. CMHC392,350 367,200345,950>Monthly Payment (P&I @3.60% - 5yr/35yr amort)1,6481,6161,4531,344Estimated Property Taxes (Monthly)208 208 208 208>Condo Maintenance Fee (if applicable)150150150150

Total Monthly Investment (P&I +Tax + Condo Fee)

2,0061,9741,8111,702

Annual Income Required @33% GDS

70,22669,05563,13959,176

Estimated Closing Costs

Property Inpection300300300300Ontario Land Transfer Tax4,4754,4754,4754,475Toronto Land Transfer Tax3,7253,7253,7253,725CMHC (PST)988576476Legal Fee & Disbursements1,2001,2001,2001,200Total Estimated Closing Costs10,68810,27610,1769,700Let me show you how diversifying your mortgage canmeet your life's goals…..

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CMHC Ins.

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