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I pay $900 rent to live in a basement now, if I buy a semi-detach house or townhouse around $350000, and I pay 20% downpayment( around $70000), How much I have to pay intrest monthly ?who can tell me if I should rent or buy now???
another question is I don not want to be tenant anymore. I have been renting basement almost 5 years, and I paid renting fee is $54000 so far, if I continue to pay rent for another 5 years, what can I get till the end? nothing or less nothing?
Please go to
http://www.canadamortgage.com/
then choose "Calculators & Tools", "Amortization" or whatever you want to calculate. For your case, if you borrow $280000, 25 years amortization, 4% annual rate, you have to pay $1473 a month for 25 years. |
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