Mortgage Amount:
$250,000.00
Payments Displayed:
1 - 60
Interest Rate:
4.700%
Payment Frequency:
Monthly
Initial Amortization Period:
25 Years, 0 Months
Initial Payment:
$1,411.61
Period
Total Paid
Interest
Principal
Balance
Year 1
1 - 12
$16,939.32
$11,521.97
$5,417.35
$244,582.65
Year 2
13 - 24
$16,939.32
$11,264.36
$5,674.96
$238,907.69
Year 3
25 - 36
$16,939.32
$10,994.51
$5,944.81
$232,962.88
Year 4
37 - 48
$16,939.32
$10,711.82
$6,227.50
$226,735.38
Year 5
49 - 60
$16,939.32
$10,415.69
$6,523.63
$220,211.75
Totals:
$84,696.60
$54,908.35
$29,788.25
$84,695 .60 - $55,452.60 – $654.80 balance
= $28589.20 saving or 2 Yr amortizations
Payment from 5.6% 3 yr Capped variable 3.75%
Mortgage Amount:
$250,000.00
Payments Displayed:
1 - 36
Interest Rate:
3.750%
Payment Frequency:
Monthly
Initial Amortization Period:
18 Years, 10 Months
Initial Payment:
$1,540.35
Period
Total Paid
Interest
Principal
Balance
Year 1
1 - 12
$18,484.20
$9,144.38
$9,339.82
$240,660.18
Year 2
13 - 24
$18,484.20
$8,790.83
$9,693.37
$230,966.81
Year 3
25 - 36
$18,484.20
$8,423.94
$10,060.26
$220,906.55
Totals:
$55,452.60
$26,359.15
$29,093.45
5.6 % prime rate – 3.75 % variable rate count principal & interest = 1.85 % extra payment saving
The Mortgage Store Inc. 2055 Dundas St East Unit # 102 Mississauga, ON L4X 2V9 Tel.(905) 282-9009 Click to apply mail :
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