884 SUNCREST Circle Collingwood Ontario
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Very rare 4 bdrm. 'Orchid' townhouse model in amenity rich Lighthouse Point. This 2 level end unit town home boasts a main floor bdrm/den and 3 additional bdrms. on the 2nd level. Large kitchen w/breakfast bar, vaulted ceilings in living rm., private patio facing west & an attached garage are just a few of the features. Master bdrm. has views to Georgian Bay. Located near on-site pool & tennis courts, this town home would make a great weekend retreat or permanent residence. A 40 ft boat slip in the private on-site marina is included. As per Seller's Direction (Form 244)Offers will be presented at 5 pm on Mon., May 29, 2017. Seller will be informed of all pre-emptive offers but will not respond to any offers until presentation date.
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.