Are you curious what a payment of “X” gets you these days? I certainly was, so I ran some calculations for you.
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Are you curious what a payment of “X” gets you these days? I certainly was, so I ran some calculations for you.
Using a mortgage rate of 3.89%, here’s what you get.
| Payment: | Amortization: | Mortgage: |
| $1,000 | 25 years | $192,500 |
| $1,000 | 35 years | $232,000 |
| $1,500 | 25 years | $290,000 |
| $1,500 | 35 years | $345,000 |
| $2,000 | 25 years | $385,000 |
| $2,000 | 35 years | $462,000 |
| $2,500 | 25 years | $482,000 |
| $2,500 | 35 years | $576,000 |
| $3,000 | 25 years | $577,000 |
| $3,000 | 35 years | $807,000 |
I am always listening for your opinion so please feel free to comment below and check out my other blogs on this site. I am a Vancouver mortgage broker working with everyone from first home buyers to investors. At the same time I do my best to education the public on how to be more financially savvy over all. If you would like to learn more about mortgages and over all real estate, please check out www.jessijohnson.ca. To subscribe to my vblogs, please click here: www.firsthomeinfo.ca/blog
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