517 WALES DRIVE Port Elgin
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- Listed Since: March 23rd 2020
This well kept side split is located just a few blocks from the sandy shores of Lake Huron! Walking trails and camping are near by. This is the perfect, quiet neighbourhood to raise a young family, close to schools and shopping. Lower level is a walk out to a beautiful private patio with lots of space for kids to play and enjoy the outdoors! New windows, shingles, water heater and most flooring. (id:23309)
- Address: 517 WALES DRIVE
- Location: PORT ELGIN
- Ownership: FREEHOLD
- MLS: 252257
|Living room||Ground level||13' 6'' x 13'|
|Kitchen||Ground level||7' 8'' x 11' 5''|
|Dining room||Ground level||11' 8'' x 9' 1''|
|Bedroom||In between||8' 9'' x 9' 4''|
|3pc Bathroom||In between||8' 1'' x 4' 6''|
|Recreation room||In between||17' 6'' x 13' 0''|
|Storage||Lower level||15' 8'' x 9' 5''|
|Utility room||Lower level||24' 0'' x 16' 8''|
|Bedroom||Second level||9' 3'' x 8' 3''|
|Master bedroom||Second level||12' 7'' x 9' 0''|
|Bedroom||Second level||9' 0'' x 11' 5''|
|4pc Bathroom||Second level||8' 2'' x 8' 1''|
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
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- 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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