| Downpayment (amount available to put down from savings, etc ) |
0% |
| Balance of purchase price |
$ mortgage amount |
| Legal fees (includes GST) |
$ 1000 - $1200 |
| Property survey (includes GST) |
$ 321 |
| Adjustments for taxes, fuel, supplies etc. |
$ * below |
| 1% Property purchase tax |
$ ** below |
| Mortgage Insurance (high ratio mtgs) (add to mtg) |
$ *** below |
| Home insurance (fire) |
$ 300 - 350 /yr approx |
| Mortgage processing fee |
$ 75 - 165 CMHC |
| Appraisal cost |
$ 321 |
| Fire Insurance |
$ 500 - 600 |
| Interest adjustment (on 1st pymt date) |
$ TBA |
| Mortgage brokerage fee |
$ N/A OAC |
| |
|
| TOTAL |
________________ |
| |
|
| * prior to July 3 credit = (annual taxes/365x number of days vendor lived in the property) |
| *after July 3 debit=(annual taxes/365 x number of days purchaser will live in the property) |
| ** 1% of the first $200,000 and 2% of the balance |
*** 96-100% mortgage 3.25% of the mortgage
91-95% mortgage 2.90% of the mortgage
86-90% mortgage 2.50% of the mortgage
81-85% mortgage 2.00% of the mortgage
76-80% mortgage 1.75% of the mortgage
75% mortgage usually 0% |
