Monthly Mortgage Payments - estimate Canada

Example data:

Downpayment = 5%
Interest/Mortgage rate = 4.5%
Private Mortgage Insurance (PMI) = 0.52%

Mortgage term = 5 years
Amortization term = 25 years

Property Tax = $3,000 per year
Property Insurance = $1500 per year


Note:
1. Mortgage, Property tax, Property insurance and PMI will increase with an increase in House Price (Mortgage Amount).
2. Figures below are for estimate and example purposes only.


Canada Home Total Monthly payment = Mortgage 
                                                                  + Property tax 
                                                                  + Property insurance
                                                                  + PMI



Home Price ---  Home Total Monthly Payment (approximate)

$300,000 --------- $2,100

$350,000 --------- $2,400

$400,000 --------- $2,700


$450,000 --------- $3,000  *** *** *** *** *** ***


$500,000 --------- $3,300

$550,000 --------- $3,600

$600,000 --------- $3,900



Observation:
For every
$50,000 increase in property price,
$300 is added to your total monthly home payment.

Comox Valley - Affordable homes, Temperate climate

Comox Valley city, town, village & communities:
Courtenay city
Comox town
Cumberland village
Royston
Union Bay
Fanny Bay
Black Creek
Merville
Denman Island
Hornby Island


Location Description:

- temperate climate
- Comox town's summer temperatures average 22C (72F)
- dry, sunny summers
- Comox town's winter temperatures rarely fall below freezing
- mild, wet winters
- Comox annual precipitation averages 1,179 mm (46.42 in)
- Precipitation (mainly rain) occurs October to March

- rural, town, village living
- less expensive housing prices (British Columbia's most affordable)
- affordable, moderate cost of living
- modern amenities & facilities:
   Airport
   Hospital
   Shopping malls
   Stores


Grocery Stores:
   Valley Asian Foods chinese grocery - 526 Cliffe Ave, Courtenay, BC, V9N 2J4
   Quality Foods Comox - 2275 Guthrie Road, Comox, BCV9M 4A6
   Quality Foods Courtenay - 1002-2751 Cliffe Ave, Courtenay, BCV9N 2L8
   Thrifty Foods - 660 England Avenue, Courtenay, BCV9N 2N4
   Edible Island Whole Foods Market - 477 6th Street, Courtenay, BCV9N 1M4
   Seeds Food Market, Inc. - 2733A Dunsmuir Ave, Cumberland, BCV0R 1S0


Chinese Restaurants:
  Dynasty Chinese Buffet - 1320 Cliffe Avenue Courtenay, BC V9N2K4
  Golden Carriage Restaurant - 4788 5th Street Courtenay, BC V9N
  Lo's Garden - 430 Old Island Highway Courtenay, BC V9N3P4
  Mandarin Village Restaurant - 5 Street Courtenay, BC V9N1J5

Canadian Tire - 278 Old Island Hwy, Courtenay, BC V9N 3P1

Walmart - 3199 Cliffe Avenue, Courtenay, BC V9N 2L9

Costco - 588 Crown Isle Blvd, Courtenay, BC V9N 0A6

Tim Hortons - 789 Ryan Rd, Courtenay, BC V9N 3R6
Tim Hortons - 2451 Cliffe Ave, Courtenay, BC V9N 2L5
Tim Hortons - 394 Lerwick Rd, Courtenay, BC V9N 2Z4

McDonalds - 1799 Cliffe Ave, Courtenay, BC V9N 2K7
McDonalds - 3199 Cliffe Ave, Courtenay, BC V9N 2L9
McDonalds - 727 Anderton Rd, Comox, BC V9M 3Y6