722 SPRY Road Lions Head Ontario
Up to 26 photos available.
Very private, well treed, 2+ acre setting with a 3 bedroom Frontier Log chalet and located less than 1000' to excellent public swimming in Lake Huron at Spry Shores. 8 inch cedar log construction and all the interior walls and ceilings are pine tongue & groove. Open living concept with custom pine cupboards, ceramic floor and vaulted ceiling. Open and spacious loft master bedroom overlooks the living area. 2 main level bedrooms have hardwood flooring. One half of the lower level is a built in garage while the other half is a family room. The garage half could be easily converted to additional living space. There are propane fireplaces on both levels. Large front deck and there is a covered side porch. Great shape inside and out and it is only 9 years old. Excellent retirement or family home. Short drive to Lion's Head.
Monthly Mortgage Payments at 2.34
Thinking about buying this home in Lions Head -- 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.