 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000
0 M9 F* D) n; [/ A 10% down payment n) L7 O7 A- l* V7 O
25 years mortgage (25 * 12 = 300 months)2 E8 L" [' d) G; C4 _# `
rate 5.24
$ ]3 S/ a9 P7 ^$ f4 U( k, Z
# |& `! u+ l3 l2 }; }1.effective rate 0.43197466) c& `5 h3 M3 H3 {
in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly.
& u+ T/ e6 I# y4 O+ J4 t 1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.43197466' S9 N" v B/ X% Q' c
2.Adjusted mortgage balance
" I' g) o, p5 ]' L 300,000 * 10% = 30,000 downpayment
/ v4 D$ u ?' Z" v! a$ n$ i 300,000-30,000 = 270,000 mortgage requried
* F& P( k$ W5 C! B0 J, X 270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)5 h2 F- D1 G( \# L7 o5 a
270,000 * 2% = 5,4001 R6 w1 S% n6 H" V
adjusted mortgage balance: 270,000 + 5,400 = 275,400% h9 H3 e# S9 y+ M/ S
3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment. {" V. D, M! U Y
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