Finance financing types
canadian HPI charted https://housepriceindex.ca/#chart_compare=c11
canada gov: mortgage portal https://www.canada.ca/en/financial-consumer-agency/services/mortgages.html canada gov: pay mortgage faster https://www.canada.ca/en/financial-consumer-agency/services/mortgages/pay-mortgage-faster.html york U: guide to mortgage calculation https://www.yorku.ca/amarshal/mortgage.htm investopedia: mortgage https://www.investopedia.com/terms/m/mortgage.asp khan academy: mortgage intro https://www.youtube.com/watch?v=vy_pvstdBhg khan academy: rent vs buy cost https://www.youtube.com/watch?v=YL10H_EcB-E khan academy: depreciation https://www.youtube.com/watch?v=QA2TBiIsdT0 ontario.ca property tax https://www.ontario.ca/page/property-tax-0 ontario 2021 property tax rates by municipality https://toronto.ctvnews.ca/five-ontario-cities-with-the-lowest-and-highest-property-tax-rates-revealed-1.5660362
Fixed Monthly Payment
I'm getting weird results from this formula.
Multiplying the montly amount by the term, the payback amount is less than the principal.
Some sources use exponent for term, some multiply. Need a better source.
P: fixed monthly payment L: principal n: term in months i: interest rate (ex. 5% is 0.05/12 == 0.00416
Total Payback Amount
I: total interest paid N: total payback amount P: principal
- Canadian mortgages compound bi-yearly by law
- Down Payments less than 20% require
- Mortgage Insurance (protects the lender at your expense)
- A term of 25-years or shorter
- In addition to the purchase price, you'll be charged a land registration fee (a percentage of your purchase price)
- You may need to purchase utility-hookup fees, painting/cleaning