 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000
; |( F3 {) ~4 P/ }5 u: y 10% down payment
7 G8 i" G0 ^6 E' D 25 years mortgage (25 * 12 = 300 months)* D5 K0 j+ ^. y( }' s( L; T4 e, ~/ Y& y
rate 5.24
2 ?* B5 ^7 }2 v, B
6 i0 i. W- k7 \4 r1.effective rate 0.43197466
P0 {0 l6 i" l% l7 H7 s& G' D in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly. : v9 f; X/ j' {" i/ Q; D
1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.43197466# ?5 F1 @5 ^6 o
2.Adjusted mortgage balance7 S* _& }. Q' h& ~
300,000 * 10% = 30,000 downpayment$ |: E* c" _. x/ H/ R: w
300,000-30,000 = 270,000 mortgage requried
8 y2 @9 N4 j {* G/ V3 k 270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)$ ^4 O+ D# W7 Q P3 l5 _2 E3 A
270,000 * 2% = 5,400* @2 B( i# x' x) E% i9 ?2 c
adjusted mortgage balance: 270,000 + 5,400 = 275,400
+ q( U5 V- Y/ \; }4 D2 w( _3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment& g0 ~9 [; X( L [- }+ `
4. TOTAL INTEREST PAID IN 25 YEAR ABOUT $216,157.48  |
|
狗仔卡
发表于 2008-9-25 13:29
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
显身卡