*The estimated monthly mortgage payment displayed with each listing, is calculated using the following basic values:
- 5% Down-payment on the first $500,000 of the total asking price.
- 10% Down-payment on the remainder, for any property over $500,000
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2.45% Prime Rate, with an amortization period of 25 years.
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5.25% interest rate, with an amortization period of 25 years. Note that 5.25% represents the current Bank of Canada Benchmark stress test, and is subject to change regularly. - Please note that this is simply the QUALIFYING rate and not the contract rate that you will receive at time of possession.
Every mortgage is different, and your monthly payment amount will likely differ from the estimations provided depending on your individual situation.
Find a Mortgage That Fits your Lifestyle!
At 2% Realty, we recommend contacting a Mortgage Professional to find the best mortgage to fit your needs. While many people attain mortgage financing directly from their bank, a Mortgage Professional can help you evaluate a much wider range of options than any bank can provide. Down-payment requirements, CMHC insurance, variable vs. fixed interest rates – all of these factors will impact your total monthly mortgage payment, and the advice of a licensed expert can potentially save you thousands.
2% Realty Recommends Vinay Thanawala with My Mortgage Professor (Powered by Mortgageline/MA).
Visit mymortgageprofessor.ca or call 403-690-7376 to find out more.
