833 SUNCREST Circle Collingwood Ontario
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Fabulous 2 bedrm condo in sought after Lighthouse Point. This unit has been updated and shows A+. 2 balconies with views to Georgian Bay. The living area has soaring cathedral ceilings and is flooded with light. The dining area comfortably accommodates 8 people, great for entertaining and a gas fireplace for cozy apres ski evenings. Lighthouse Point is a development in Collingwood set on 100 acres, with walk ways and trails throughout and along the waters edge. The recreation centre is 16,000 sq ft, with huge party room and kitchen. There's a gym and a children's play area. The indoor year round pool has a slide and 2 hot tubs, sliding glass doors out to the deck where you can bask in the sunlight while looking over Georgian Bay and the marina. There are 3 outdoor pools and 7 tennis courts. This really is an ideal place to live or vacation being the 4 season resort area with everything on your door step. Everything that a city has to offer but with the small town friendly atmosphere.
Collingwood -- Extreme Seller’s Real Estate Market
Monthly Mortgage Payments at 2.34
Thinking about buying this condo in Collingwood -- lets calculate some mortgage payment options and see if purchasing this condo 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.