 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000
8 {; L1 X8 i5 j p, A. P 10% down payment + V/ X8 j4 g' K* ~' n1 q
25 years mortgage (25 * 12 = 300 months)
( W0 `9 F( y. o/ c6 z rate 5.24
0 ^6 X2 H9 r% c' d
; u& Z7 E! c9 v' k% f/ \1 V1.effective rate 0.431974664 z4 ]; B- b) u1 C$ O$ B4 E
in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly.
. F' |9 K3 d3 T' ?, o3 G 1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.431974668 ` N9 ]1 ~) R* w" K2 S
2.Adjusted mortgage balance$ W9 b7 W. W+ I: B7 g
300,000 * 10% = 30,000 downpayment
3 O% M2 r) c5 f! U% y( [" |0 N 300,000-30,000 = 270,000 mortgage requried
% a5 N' O9 y- ]- P% Q 270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)
& p) m4 K+ `6 p( O) i2 |- c 270,000 * 2% = 5,400- G* S0 S9 v4 s. d" g" H- p' H
adjusted mortgage balance: 270,000 + 5,400 = 275,400
* g8 |. r& r, m ?% i$ R3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment
/ S2 w! e" x" p, Z. P, r4. 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