Calgary Herald : 2018-11-10

NEW CONDOS : 90 : G6

NEW CONDOS

G6 SATURDAY, NOVEMBER 10, 2018 CALGARY HERALD Mortgage rates numbers BY THE Income, home price and down payment guide Effective Nov. 8, 2018. Rates expressed in per cent. Variable Rate 6 mo. 6 mo. 1 year 1 year 2 year 3 year 4 year 5 year open closed open closed closed closed closed closed This table gives you a very general idea of the maximum home price you can afford. These rough estimates take into account household income and down payment amount. They assume a mortgage interest rate of 3.5%, 30-year amortization, average tax and heating cost in Canada, and the mortgage for which an average Canadian might qualify, based on a 32% debt-service ratio. Mortgage payment calculation chart Chartered banks Bank of Montreal Bank of Nova Scotia Bridgewater Bank CIBC Mortgages c 4.100 c 4.150 - c 3.950 c 3.750 - c 3.040 c 3.050 c 3.950 4.450 c 3.700 7.250 4.200 7.250 3.790 3.990 7.250 4.750 7.250 3.790 3.790 - - - - - 7.250 3.750 6.3503.540 3.640 6.390 6.390 6.010 3.190 3.340 - - - 3.640 3.890 7.100 3.690 4.9903.190 3.290 - - - 3.190 3.190 6.700 4.400 6.3003.640 3.840 - 4.450 4.450 3.590 3.690 7.050 4.500 7.050 3.640 3.890 4.290 4.890 5.340 4.440 4.590 5.440 - - - 3.940 4.490 5.340 3.490 3.590 3.590 4.450 5.040 5.340 3.440 3.540 3.640 3.940 4.290 5.140 4.340 4.890 5.490 3.790 3.840 3.940 4.300 4.890 5.340 Monthly investment in a mortgage per $1,000 % 25 YEAR 15 YEAR CanadianWesternBank NOTE: This table is presented for informational purposes only and may not apply to your situation; see your lending institution for accurate figures. Equitable Bank HSBC Bank Canada ICICI Bank Canada Laurentian Bank Manulife Bank National Bank 3.5 = 5.01 = 7.15 Household Income/yr Down payment Maximum home price Down payment Maximum home price 4.0 = 5.28 = 7.40 4.5 = 5.56 = 7.65 $50,000 $15,000 $295,000 $45,000 $340,000 5.0 = 5.85 = 7.91 President’sChoiceFin’l $60,000 $18,000 $350,000 $50,000 $400,000 5.5 = 6.11 = 8.14 Royal Bank Simplifi Financial Street Capital Bank TD Canada Trust Tangerine c 3.950 c 3.950 c 3.200 c 4.100 c 3.450 7.450 3.640 7.450 3.640 3.890 - 6.190 - 3.540 3.640 - - - 3.790 3.790 - 3.340 4.500 3.590 3.740 - - - 3.390 3.540 4.450 5.040 5.340 3.890 4.390 4.990 3.790 3.790 3.890 3.890 3.940 5.590 3.590 3.690 3.740 6.0 = 6.40 = 8.40 $70,000 $23,000 $430,000 $60,000 $470,000 6.5 = 6.70 = 8.67 $80,000 $25,000 $475,000 $75,000 $525,000 7.0 = 7.01 = 8.94 $90,000 $28,000 $535,000 $85,000 $595,000 7.5 = 7.32 = 9.21 Trust Companies $100,000 $34,000 $610,000 $95,000 $675,600 8.0 = 7.64 = 9.49 Home Trust Company Investors Grp Trust Peace Hills Trust - c 3.700 - - - 6.950 4.200 - 4.500 - 3.490 7.100 3.490 - 3.350 3.740 3.590 3.500 4.300 5.040 5.340 4.140 4.890 5.340 3.750 4.050 4.250 8.5 = 7.96 = 9.77 $120,000 $42,000 $745,000 $100,000 $790,000 9.0 = 8.28 = 10.05 $140,000 $50,000 $850,000 $120,000 $925,000 Other institutions 9.5 = 8.62 = 10.33 $160,000 $58,000 $950,000 $135,000 $999,000 ATB Financial c 3.300 - c 3.950 c 3.700 4.500 4.500 4.5003.340 3.540 6.950 4.090 7.000 3.390 3.410 - 4.500 - 4.090 3.940 6.950 4.200 7.100 3.490 3.590 3.740 3.840 3.890 3.490 3.550 3.590 3.840 3.890 3.940 4.140 4.890 5.340 10.0 = 8.95 = 10.62 FirstCalgaryFinancial First National Financial $180,000 $65,000 $1 M $150,000 $1.1 M 10.0 = 9.29 = 10.92 London Life For example: A $100,000 mortgage over 25 years at 3.5% is $5.01 x 100 = $501 monthly payment $200,000 $72,000 $1.2 M $175,000 $1.3 M Variable rates are open unless indicated by a ‘c.’ Figures are approximate, and rounded to the nearest $100 This table was prepared by CANNEX Financial Exchanges on Nov.8, 2018. For current rates, please visit the CANNEX website at www.cannex.com. All rates are for informational purposes only, and should be confirmed by the company quoted.

© PressReader. All rights reserved.