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Mortgage Payment Calculator Are you ready to purchase a home for the first time? Can you afford a mortgage payment? The Mortgage Payment Calculator will help you estimate mortgage payments based on the amounts entered in the fields below.
Please keep in mind these factors: - The maximum amortization is 35 years - Minimum down payment must be 5% of purchase price - Max Affordability is 32% of Gross Income (GDS) and 40% of Total Debt(TDS) - Your Mortgage rate would depend on multiple factors, major factors would be the type of repayment you choose (Variable, Fixed), The term (6 months to a 10 years), credit qualifications. - Current 5 year fixed Rate: 3.95% Variable Rate: Prime +0.75 - Todays current Prime Rate is 2.5%
The above rates are subject to change without notice. Please Contact me for confirmation.
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