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These estimates are for first time home buyers and 4.1% five years fixed mortgage rate with 30 Year amortization.
PRICE |
$500,000 |
| Minimum Down Payment Needed | $25,000 |
| CMHC Insurance | $19,950 |
| TOTAL LOAN | $494,950 |
| CASH AT CLOSING | |
| Down Payment | $25,000 |
| Land Transfer Tax (First Time Home Buyer will get $4000 rebate) |
$2,475 |
| PST on Mortgage Insurance | $1,596 |
| Lawyers Fees | $1,200 |
| Title Insurance | $900 |
| Home Inspection | $500 |
| Appraisal | $300 |
| Total Cash Needed at Closing (Approx) | $31,971 |
| MONTHLY EXPNSES | |
| Mortgage payment (approximate) | $2,392 |
| Property Tax | $400 |
| Utilities | $200 |
| Insurance | $50 |
| Total Monthly Expenses (Approx) | $3,042 |
Click Here to see what is available in Durham under 500K
PRICE |
$650,000 |
| Minimum Down Payment Needed | $40,000 |
| CMHC Insurance | $25,620 |
| TOTAL LOAN | $635,620 |
| CASH AT CLOSING | |
| Down Payment | $40,000 |
| Land Transfer Tax (First Time Home Buyer will get $4000 rebate) |
$5,475 |
| PST on Mortgage Insurance | $2,050 |
| Lawyers Fees | $1,200 |
| Title Insurance | $900 |
| Home Inspection | $500 |
| Appraisal | $300 |
| Total Cash Needed at Closing (Approx) | $50,425 |
| MONTHLY EXPNSES | |
| Mortgage payment (approximate) | $3,071 |
| Property Tax | $520 |
| Utilities | $200 |
| Insurance | $50 |
| Total Monthly Expenses (Approx) | $3,841 |
Click Here to see what is available in Durham between $500K to $650k
PRICE |
$800,000 |
| Minimum Down Payment Needed | $55,000 |
| CMHC Insurance | $31,290 |
| TOTAL LOAN | $776,290 |
| CASH AT CLOSING | |
| Down Payment | $55,000 |
| Land Transfer Tax (First Time Home Buyer will get $4000 rebate) |
$8,475 |
| PST on Mortgage Insurance | $2,503 |
| Lawyers Fees | $1,200 |
| Title Insurance | $900 |
| Home Inspection | $500 |
| Appraisal | $300 |
| Total Cash Needed at Closing (Approx) | $68,878 |
| MONTHLY EXPNSES | |
| Mortgage payment (approximate) | $3,751 |
| Property Tax | $640 |
| Utilities | $200 |
| Insurance | $50 |
| Total Monthly Expenses (Approx) | $4,641 |
Click Here to see what is available in Durham between $650k to $800K
PRICE |
$950,000 |
| Minimum Down Payment Needed | $70,000 |
| CMHC Insurance | $36,960 |
| TOTAL LOAN | $916,960 |
| CASH AT CLOSING | |
| Down Payment | $70,000 |
| Land Transfer Tax (First Time Home Buyer will get $4000 rebate) |
$15,475 |
| PST on Mortgage Insurance | $2,957 |
| Lawyers Fees | $1,200 |
| Title Insurance | $900 |
| Home Inspection | $500 |
| Appraisal | $300 |
| Total Cash Needed at Closing (Approx) | $91,332 |
| MONTHLY EXPNSES | |
| Mortgage payment (approximate) | $4,431 |
| Property Tax | $760 |
| Utilities | $200 |
| Insurance | $50 |
| Total Monthly Expenses (Approx) | $5,441 |
Click Here to see what is available in Durham between $800k to $950K
Click Here to see what is available in Durham over $950K