102635 ROAD 49 Mount Forest Ontario
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Nestled amongst the rolling hills of West Grey you will find this great 3 bedroom, 4 bath Cape Cod home on 0.73 acre lot with a wonderful view of the surrounding farmland and trees. This same view is afforded from the rear deck which also overlooks the aboveground saltwater pool. The main floor has been opened up to a modern open concept floor plan with new kitchen cabinets & large island, remodeled combination 2pc/laundry room. Master bedroom boasts a new 5pc ensuite. Both washrooms on upper floor have heated floors. Broadloom free with the exception of the finished basement. 1650sq.ft. of finished area above grade and an additional 700+sq.ft. on the lower level. Heating for this home, equipped with central air, is provided by a new forced air propane furnace and a woodstove. Two year old 24' x 32' x 9' hop roof workshop/shed w/loft has 3.5'-4'sprayed urethane foam insulation, separate 100amp service, is completely wired and provisions for heating on the upper floor as well.
Mount Forest -- Seller’s Real Estate Market
Monthly Mortgage Payments at 2.34
Thinking about buying this home in Mount Forest -- 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.