Mortgage Payment Calculator

What to look for in mortgage

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• Lorem Ipsum is simply dummy text of the printing and typesetting industry. standard dummy text ever since the 1500s when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged.
• Lorem Ipsum is simply dummy text of the printing and typesetting industry. standard dummy text ever since the 1500s when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with

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What to look for in mortgage

Case Study

• Example: Using the Mortgage Payment Calculator by Shelto Scenario: Client is a first-time homebuyer in Toronto. After browsing the real estate market, Client sets his eyes on a condo listed for $500,000. However, he's unsure how much his monthly mortgage payments might be and how different down payment amounts could affect this.
• Step 1: Initial Input Client inputs the condo's price ($500,000) into Shelto's Mortgage Payment Calculator. He's considering a 25-year loan term with an estimated interest rate of 3.5%. For his initial test, he inputs a 5% down payment (or $25,000).
• Step 2: Results The calculator promptly shows that with these parameters, Client would have a monthly payment of approximately $2,370.
• Step 3: Adjusting Down Payment To see how increasing his down payment might affect his monthly obligation, Client inputs a 10% down payment (or $50,000). The calculator adjusts to show a new monthly payment of approximately $2,240. That's a monthly saving of $130.
• Step 4: Decision-Making With these figures in hand, Client realizes that by increasing his down payment by $25,000, he could save $1,560 annually. It provides him a clearer perspective on whether he should save a bit more for a larger down payment or proceed with the current funds.
• Outcome: Thanks to Shelto's Mortgage Payment Calculator, Client feels more informed and confident in his home buying journey. He decides to wait a few more months, save the additional down payment, and benefit from the reduced monthly payments in the long run.