Affordability-Calculator

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					                         Affordability Calculator
Purchase Price                                                #######
CMHC                                                      $    6,804.00
Downpayment (10%)                                                         $ 35,680.40

Total Mortgage (3.5%, 3 Year Term, 35 Year Amort)             #######

Closing Costs
        Home Inspection                                   $      400.00
        Lawyer Fee                                        $    1,200.00
        Land Transfer Tax                                 $    3,725.00
        Pre-Paid Property Tax                             $    3,000.00
        Title Insurance                                   $      300.00
                                                                          $ 8,625.00

        Payable Day of Closing (Not part of Mortgage)                     $ 44,305.40


Fixed Living Expenses
                                                               Month           Year

        Mortgage                                          $    1,322.48   $   15,869.76
        Property Taxes                                    $      250.00   $    3,000.00
        House Insurance                                   $      100.00   $    1,200.00
        Hydro                                             $      100.00   $    1,200.00
        Water                                             $       60.00   $      720.00
        Gas                                               $      200.00   $    2,400.00
        Maintenance Reserve (1% of Value)                 $      291.67   $    3,500.00
        Groceries                                         $      600.00   $    7,200.00
        Internet / Cable / Phone                          $      100.00   $    1,200.00
        Car Payment                                       $      500.00   $    6,000.00
        Gas                                               $      400.00   $    4,800.00
        Car Insurance                                     $      166.67   $    2,000.00
        Life / Disability Insurance                       $       50.00   $      600.00
        Child Care                                                        $         -
        Personal (clothing,gift,salon,gym)                $      200.00   $    2,400.00
        Daily Living(Coffee,Dry Cleaning, Pets etc.)      $      200.00   $    2,400.00
        Entertainment (Dining out, movies etc.)           $      350.00   $    4,200.00
        Savings (10% of Earnings)                         $      500.00   $    6,000.00
        Loans / Credit Cards                              $      150.00   $    1,800.00




        Total Expenses                                    $    5,540.81   $ 66,489.76




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