May 20, 2019Phone: 416-626-7800


   Mortgage Savings - Capped Variable

Article Index
Mortgage Savings
Capped Variable

Capped Variable Mortgage
Payment from
4.7% 5 yr closed

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


First Canada Mortgage Corporation Inc.

701 Evans Ave. Suite: 710, Toronto, ON, M9C 1A3          
Tel.(416) 626-7800
Office (416) 626-7800
Fax (416) 626-8200

Click to apply
mail: info@firstcmc.com  










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