7 SUNSET Court Collingwood Ontario
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Hear the waves crashing from your bedroom & backyard! It truly is that close to beautiful Georgian Bay & Sunset Point Park. Imagine packing a picnic & WALKING down the street to enjoy it by the waterfront. No busy roads to cross & just a hop, skip & a jump from your home on this quiet dead-end street. Truly spectacular location for this spacious 3 bdrm, 1 full bath & 2 half bath home w/ oversized single car garage. Large entrance w/ white brick walls & new tiles invite you into the home where you will find heart warming brick gas fireplace & many large windows that set the tone for the main flr. Kitchen could use a bit of updating but offers plenty of cupboard space & a window looking into the backyard. The sunroom is bright & seems to bring the outdoors in to a place where you could curl up & read books all day. The extensive deck makes you feel like youre doubling your living space which might just be true during the summer mths.
Collingwood -- Extreme Seller’s Real Estate Market
Monthly Mortgage Payments at 2.34
Thinking about buying this home in Collingwood -- 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.