You’re interested in a house listed at $213000. You plan to put down 10% as a down payment. a) Legal fees and taxes add $2300 to the closing costs. How much are the closing costs? (2 marks) b) Find the CMHC if it is 2% of the loan. (2 marks) c) Determine the mortgage amount and the monthly payment if it is amortized over 30 years at 5.35% interest. (4 marks)

/in /by

You’re interested in a house listed at $213000. You plan to put down 10% as a
down payment.
a) Legal fees and taxes add $2300 to the closing costs. How much are the closing costs? (2
marks)
b) Find the CMHC if it is 2% of the loan. (2 marks)
c) Determine the mortgage amount and the monthly payment if it is amortized over 30 years
at 5.35% interest. (4 marks)

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