Call Marg: 705-446-1762

For those of you in our Collingwood, Blue Mountains, Wasaga Beach, Clearview, Meaford or Grey Highlands areas who are thinking about mortgages…did you know that Canadian mortgages are calculated semi-annually, not in advance, and therefore you cannot do a straight interest calculation to come up with an accurate mortgage payment.

Here’s An Example:

If you wish to calculate a 5 year mortgage, amortized over 25 years at current rates – say 3.19%, the multiplier is $4.83 per thousand dollars of mortgage.

So a $100,000 mortgage with a 5 year term, amortized over 25 years will cost approximately $483.00 per month. ($100 x $4.83)

Similarly, a $200,000 mortgage with the above terms/amortization would result in a monthly payment of approximately $966.00 per month.  ($200 x $4.83)




Monthly E-Newsletter

Marg Scheben-Edey

Real Estate Broker
Market Value Appraiser - Residential
Accredited Green Broker™
(designated by the National Association of Green Agents & Brokers)

RE/MAX four seasons
realty limited, Brokerage
Each Office Independently Owned & Operated
67 First Street, Collingwood L9Y 1A2

Contact Marg

 Direct: 705-446-1762

Prefer Text? 705-446-5066

Email Marg

© Copyright 2017 All Rights Reserved.

Privacy Policy | Sitemap

Get Marg's Newsletter Delivered to Your InboxMonthly

Hey, it never hurts to know more about the local market and the goings on, does it? Stay “in-the-know” about the South Georgian Bay real estate market as well as local news, great new businesses and other fun stuff. At least you’ll have some impressive local trivia at the next cocktail party! Now, I just need a little info from you. (This information will never be shared – I promise!)


Pin It on Pinterest