2128 CONCESSION 6 E Ripley Ontario
Up to 30 photos available.
Deep rural roots embrace this special property knows at the Wylds Cabin, where a well-known local historian Ab Wylds was born. Built in the days of our Pioneers, circa 1848 with hand hewn beams that have been carefully preserved by the exterior board and batten. This idyllic setting will provide you with inner peace and tranquility, surrounded by trees, burning fireplace warms the home with electric BB backup. Modern updated bath and main floor laundry with a cute galley kitchen. This home is idea for a couple although there is lots of room to build an addition for a larger family. There is a Bunkie or storage shed for all your extras including family members. With a quaint hobby barn large enough for hay storage and loafing area you can have a couple of horses comfortably. Seldom do we come across a home that tells such a story with it's personality.
Monthly Mortgage Payments at 2.34
Thinking about buying this home in Ripley -- 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.