504 GODERICH Street, Port Elgin
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Fantastic Location, Great Income Potential. This Duplexed Home Has A 3 Bedroom Unit in the Front Section, With Large Kitchen, Living Room, Main Floor Laundry/Porch, Main Floor Master, and Two Bedrooms on The Second Floor. The Rear Unit Holds A Large Living Room, Bedroom, Kitchen 4pc Bath and Large Loft Area For Storage. Zoning Lends Itself To Multiple Uses. Call Today For Your Personal Tour.
- Address: 504 GODERICH STREET
- Nearest Town or City: Port Elgin
- Ownership Type: Freehold
|Bath (# pieces 1-6)||Main level||4PC 2ND AREA|
|Bath (# pieces 1-6)||Main level||4PC|
|Master bedroom||Main level||9.02X14.09|
|Living room||Main level||22X13.07 2ND AREA|
|Living room||Main level||10.08X17|
|Laundry room||Main level||5.06X24.04 PORCH ARE|
|Kitchen||Main level||7.06X12.10 2ND AREA|
|Bedroom||Main level||7.10X9.03 2ND AREA|
|Bedroom||Second level||9 ft x|
|Bedroom||Second level||9.02X11.02 KNEE WALL|
Monthly Mortgage Payments
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- 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.
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