 鲜花( 0)  鸡蛋( 0)
|
Assume: House value 300,000% t+ n! J& x; B" `( X7 t
10% down payment # m& j, ]: e g% }# {. P
25 years mortgage (25 * 12 = 300 months); G7 ?2 Q5 Y+ Y, L- i% b
rate 5.24; L0 U* Y, ~. n3 X! `
' c/ n: M6 ^* V$ c z
1.effective rate 0.43197466+ C9 h- L1 I) l+ D# ?" @1 Y0 V
in Canada it is common to have mortgages that have interest compounded semi-annually(5.24/2), with payments made monthly. ; v% w) ]' K1 h8 [6 ~* j
1 pv, 0 pmt, 1.0262 FV, 6 N ----- CPT I/Y = 0.431974667 x% n8 z2 Y8 I, k% H
2.Adjusted mortgage balance
9 x T3 ? i# u4 ? 300,000 * 10% = 30,000 downpayment% |. \* X* L0 }
300,000-30,000 = 270,000 mortgage requried/ \; g$ x0 l P n& M" X/ x' u
270,000/300,000 = 90% ---- 2% premium % of loan amount (CMHC)( S7 E6 Q- g/ d/ T/ X; r
270,000 * 2% = 5,4005 m% q/ `, u6 N* M5 i
adjusted mortgage balance: 270,000 + 5,400 = 275,400& w {' G, H! T4 N) I2 ]) t
3. PV 275,400, N 300, 0.43197466 I/Y, 0 FV, CPT PMT = $1637.20 monthly payment
1 h- A% N7 X0 {2 B: q4. 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