457 5TH Avenue East Owen Sound Ontario
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Tucked up against the escarpment on a lovely tree-lined street, only a few doors down from Harrison Park's secluded back entrance, this much-loved home is absolutely delightful! Chalk full of personality, it has the feel of traditional small town Ontario with a touch of cottage charm. High ceilings and refinished wood floors, country kitchen and original trim, 2 full baths, new insulation (2016), 2008 furnace. It is also incredible economical with heat averaging $70/mo and hydro $51.mo. Large deck in the backyard for lounging or entertaining. Landscaped yard with loads of potential for even more creativity. Private paced driveway with parking for 2 cars. A quick walk to downtown. The park is amazing for rigorous hikes or leisurely strolls - and an ice cream after. This is the perfect home for a woman looking to create a cozy nest for herself, a couple craving a retreat in a quiet neighbourhood or a young family seeking a safe and convenient location.
Owen Sound -- Seller’s Real Estate Market
Monthly Mortgage Payments at 2.34
Thinking about buying this home in Owen Sound -- 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.