60 RUE ERIC Penetanguishene Ontario
Up to 13 photos available.
Location...Location! This bungalow is located on spacious corner lot in estate subdivision in the heart of Lafontaine, and is within minutes drive to Georgian Bay Beaches. Home features eat-in kitchen, living room, dining room combination, 3 bedrooms, one with semi-ensuite and spacious lower level 4th bedroom (master). Bright unspoiled lower level with roughed-in bathroom awaiting to be finished! Great outdoor deck spans the entire length of the house with walk out from kitchen! Seller will leave trim, flooring, baseboard material on premises to complete any on-going projects. Do Not Miss Out!!
Monthly Mortgage Payments at 2.34
Thinking about buying this home in Penetanguishene -- 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.