94 TOWER Road Chesley Ontario
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Fantastic raised bungalow in desirable Tower Park. This 4 bedroom home exudes pride of ownership. The master suite c/w cheater ensuite is oversized with a sitting area with patio doors leading to the fabulous deck that runs the entire width of the house. As well the main level offers a 2nd bedroom, a chefs kitchen, and an open concept living and dining. Patio doors from the dining room access the deck. The lower level has a spacious family room with walkout to the fenced in backyard, 2 bedrooms, 3pc bath, laundry/utility and loads of storage. The 2 car garage offers access to the lower level and the main level. This is an exceptional home that will tick all the boxes for the discerning buyer. Security system monitoring $20/mth. Water, sewer and garbage approx. $1200/year
Chesley -- Balanced Real Estate Market
Monthly Mortgage Payments at 2.34
Thinking about buying this home in Chesley -- lets calculate some mortgage payment options and see if purchasing this home can become a reality.
- Down Payment
The amount of money you pay up front to obtain a mortgage. The minimum down payment is 5% and for down payments of less than 20%, home buyers are required to purchase mortgage default insurance, commonly referred to as CMHC insurance.
- Mortgage Insurance
Mortgage default insurance, commonly referred to as CMHC insurance, protects the lender in the case the borrower defaults on the mortgage. Mortgage default insurance is required on all mortgages with down payments of less than 20%, which are known as high ratio mortgages. Mortgage default insurance is calculated as a percentage and is applied to your mortgage amount.
- Mortgage Rate
The rate of interest you will pay on the outstanding balance of your mortgage.
- Mortgage Type
The mortgage type includes the term of the mortgage, between 1 to 10 years and the rate type, variable or fixed. The mortgage term is the length of time you commit to the terms, conditions and mortgage rate. The mortgage rate type can be fixed for the duration of the term or variable, fluctuating with the prime rate. Fixed rates are most popular and represent 66% of all mortgages, according to the Canadian Association of Accredited Mortgage Professionals.
These mortgage estimates are provided by Sharon Vanderschot from Mortgage Alliance.