Creating Homes
Preston Arbour
505 Margaret Street, Cambridge, Ontario (Preston)
How Can You Afford Your Preston Arbour Home?
The following chart illustrates how Creating Homes, working with the Home Ownership Alternatives Corporation, can offer home purchasers affordable ways to own their own home.
For more information on how this financing works, please attend our next Information Session or contact us.
|
One Bedroom |
One bedroom & Den |
Two Bedroom |
Two Bedroom & Den |
Three Bedroom |
|
|
Purchase Price |
$164,900 |
$189,900 |
$199,900 |
$220,399 |
sold out |
|
Down Payment Assistance Home Ownership Alternatives (HOA) Mortgage |
$16,490 |
$18,990 |
$19,990 |
$22,039 |
-- |
|
Optional additional down payment (10%) from alternate sources (CO-Affordable housing assistance, additional HOA assistance or purchaser’s down payment) |
$16,490 |
$18,990 |
$19,990 |
$22,039 |
-- |
|
Interest Rate |
3% | 3% | 3% | 3% | -- |
|
Amortization |
30 years | 30years | 30 years | 30 years | 30 years |
|
Property Taxes (Approximate) |
$153 | $160 | $190 | $219 | -- |
|
Condo Fees (Approximate) |
$123 | $130 | $156 | $186 | -- |
|
Total Monthly Payment including principle, interest, taxes and condo fees |
$830 | $934 | $1,019 | $1,147 | -- |