Compare Renting vs Owning your Own Home

 

WHAT YOUR RENT WILL BUY!!

Todays mtg rates are lower THAN 5.0%

Can you afford to keep paying rent when you can OWN your OWN home?

COMPARING YOUR RENT TO A MORTGAGE

RENT PAYMENT MORTGAGE PAYMENT MORTGAGE
(INCLUDES CMHC)
DOWN PAYMENT PURCHASE PRICE INCOME REQUIRED*
$600.00 $600.00 $103,162.80 $5,258.71 $105,174.26 $25,999.02
$650.00 $650.00 $111,759.70 $5,696.94 $113,938.78 $28,165.60
$700.00 $700.00 $120,356.60 $6,135.17 $122,703.30 $30,332.19
$750.00 $750.00 $128,953.50 $6,573.39 $131,467.82 $32,498.77
$800.00 $800.00 $137,550.40 $7,011.62 $140,232.35 $34,665.36
$850.00 $850.00 $146,147.30 $7,449.84 $148,996.87 $36,831.94
$900.00 $900.00 $154,744.20 $7,888.07 $157,761.39 $38,998.53
$950.00 $950.00 $163,341.10 $8,326.30 $166,525.91 $41,165.11
$1,000.00 $1,000.00 $171,938.00 $8,764.52 $175,290.43 $43,331.70
$1,050.00 $1,050.00 $180,534.90 $9,202.75 $184,054.95 $49,668.96
$1,100.00 $1,100.00 $189,131.80 $9,640.97 $192,819.48 $52,034.14
$1,150.00 $1,150.00 $197,728.70 $10,079.20 $201,584.00 $54,399.33
$1,200.00 $1,200.00 $206,325.60 $10,517.43 $210,348.52 $56,764.52
$1,250.00 $1,250.00 $214,922.50 $10,955.65 $219,113.04 $59,129.71
$1,300.00 $1,300.00 $223,519.40 $11,393.88 $227,877.56 $61,494.90
$1,350.00 $1,350.00 $232,116.30 $11,832.10 $236,642.08 $63,860.09
$1,400.00 $1,400.00 $240,713.21 $12,270.33 $245,406.61 $66,225.28
$1,450.00 $1,450.00 $249,310.11 $12,708.56 $254,171.13 $68,590.46
$1,500.00 $1,500.00 $257,907.01 $13,146.78 $262,935.65 $70,955.65

BASED ON AN INTEREST RATE OF: 5.0% 

ANNUAL TAXES ARE ASSUMED TO BE 1.25% OF PURCHASE PRICE


*Includes Tax estimate. Does not include maintenance fees (if applicable)

E. & O.E. All calculations are estimated and subject to verification of clients personal information
with other debts not to exceed 8% of gross.

Rosilyn Splitter

sales representative


 

 

 

 

 

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