6171 HOBBS RD Lambton Shores Ontario
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Two bedroom furnished summer cottage with 4 piece bath, in good condition on large well treed lot. Open concept, vaulted ceilings, propane fire place insert new 2017, 100 amp hydro with breakers, 15' x 12' Screen Room, 28 x 10 foot side deck new 2015, storage shed. Note: Land is leased from Charles Shawkence, will start a new 5 year lease @ $2,000/year, current Band fees are $1363.00 which pays for garbage & road maintenance etc. Septic system must be pumped and inspected to meet Band requirements before closing date or replaced if it does not meet approval. Quiet road just off of London Road at Kettle Point. Several great public golf course within 15 minutes, 20 minutes to Grand Bend, 40 minutes from Blue Water Bridge in Sarnia. Enjoy fantastic sunsets over Lake Huron 2 blocks away
|4pc Bathroom||Main level|
|Bedroom||Main level||10 ft x 9 ft ,6 in|
|Bedroom 2||Main level||10 ft x 9 ft ,6 in|
|Kitchen||Main level||12 ft ,6 in x 9 ft ,5 in|
|Living room||Main level||12 ft ,8 in x 9 ft ,5 in|
|Sunroom||Main level||15 ft x 10 ft|
|Storage||Main level||6 ft ,4 in x 4 ft ,9 in|
Monthly Mortgage Payments at 2.34
Thinking about buying this home in Lambton Shores -- 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.