How this will effect you: see an example chart below:
Loan Amount | $150,000 | $250,000 | $350,000 | $450,000 | $550,000 | $850,000 |
Increase to Monthly Mortgage Payment | $2.82 | $4.70 | $6.59 | $8.47 | $10.35 | $15.98 |
Based on a 5 year term @ 2.94% and a 25 year amortization
Loan Amount | $150,000 | $250,000 | $350,000 | $450,000 | $550,000 | $850,000 |
Increase to Monthly Mortgage Payment | $4.94 | $8.23 | $11.52 | $14.81 | $18.10 | $27.98 |
Based on a 5 year term @ 2.94% and a 25 year amortization
Loan Amount | $150,000 | $250,000 | $350,000 | $450,000 | $550,000 | $850,000 |
Increase to Monthly Mortgage Payment | $7.06 | $11.75 | $16.46 | $21.16 | $25.86 | $39.96 |
Based on a 5 year term @ 2.94% and a 25 year amortization
Contact Amy Wilson with any questions you may have and feel free to click here for more information from CMHC!
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