 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000
/ q6 I0 l2 I/ k% x ^ 10% down payment
* r3 l# t) ]$ t+ j 25 years mortgage (25 * 12 = 300 months)
+ f: D; c" R8 k: }8 T2 V; K; A rate 5.248 A- e/ i( k! y6 P7 O- |
$ ?6 H* B' x! R& B, S0 v% O
1.effective rate 0.431974661 N1 a1 i3 T% i" N5 ?) K
in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly. * [$ U. h- }+ }" ]0 Q# P
1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.43197466
7 S! h1 }6 @( y1 ]2.Adjusted mortgage balance8 L. ^8 W, J: @: [ z
300,000 * 10% = 30,000 downpayment
& F! n3 R. g3 [6 y5 S% b: R 300,000-30,000 = 270,000 mortgage requried
' `. T$ k0 U! d% _5 ]5 w, D$ e 270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)
c. c! y# x& e) x8 j# ? 270,000 * 2% = 5,400
% @" B. o! @+ s3 i( p2 y" X6 r adjusted mortgage balance: 270,000 + 5,400 = 275,4007 w( t0 `" [7 w; E
3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment( Q, a G/ q- {) K$ l: a
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