Finance financing types: Difference between revisions
From wikinotes
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== Formulas == | |||
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P = L[c(1 + c)n]/[(1 + c)n - 1] | |||
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== Fun Facts == | == Fun Facts == | ||
Revision as of 14:50, 2 January 2023
Mortgages
Information Sources
canadian HPI charted https://housepriceindex.ca/#chart_compare=c11 Tutorials
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 Formulas
P = L[c(1 + c)n]/[(1 + c)n - 1]
Fun Facts
- 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
