700 HILKER STREET Port Elgin
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- Listed Since: May 22nd 2020
Opportunity knocks in one of the region's hottest and fastest growing real estate markets. On a prime lot, this home makes a perfect starter with fantastic potential for future redevelopment (high density zoning), creating tremendous value to those looking to invest. Viewing by appointment only (id:23309)
- Address: 700 HILKER STREET
- Location: PORT ELGIN
- Ownership: FREEHOLD
- MLS: 260454
|4pc Bathroom||Ground level|
|Mud room||Ground level||17' 11'' x 5' 9''|
|Living room||Ground level||27' 10'' x 12' 7''|
|Master bedroom||Ground level||12' 10'' x 9' 4''|
|Bedroom||Ground level||11' 3'' x 11' 5''|
|Kitchen||Ground level||15' 4'' x 14' 6''|
|Bedroom||Second level||11' 7'' x 15' 5''|
|Sitting room||Second level||11' 7'' x 15' 5''|
Monthly Mortgage Payments
Thinking about buying 700 HILKER STREET -- lets calculate some 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.
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