283093 SOUTHGATE GLENELG TOWNLINE Durham Ontario
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Lovely brick 5 bedroom, 3 bathroom, custom built home on a landscaped country lot of approx. 2 acres with an in-ground pool!! On a paved road outside of Durham, this home has many features including natural gas heat. Other features include a large eat-in kitchen with custom Barzotti cabinets and in counter gas cooktop, central air, formal dining area, main floor master bedroom, main floor family room, main floor laundry & central vac! Loft area has 2 nice size bedrooms & a full bathroom. Lower level has a large unfinished rec area, a 5th bedroom and lots of storage. With 2200 sq. ft. finished living area it is more than enough for that growing family. Lower level walkout to the patio and in-ground pool area accentuates this great family home. 16'x10' covered sitting area. In-ground pool area accentuates this great family home. Allows those great sunset views in the West. 32'8x9'11 deck for all your entertaining needs. 25'x26'garage with paved laneway.1 listing agent related to Seller
Monthly Mortgage Payments at 2.34
Thinking about buying this home in Durham -- 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.