. O O Section 2 - Down Payment Please enter the dollar amount of a 8.7% down payment. CMHC WEBSITE Current Home Price is: $455000 Down Payment: Mortgage Amount Submit Section Value: 2Section 3 CMHC Calculation Please determine the CMHC premium amount based on balance outstanding on a traditional down payment type. CMHC WEBSITE Current Mortgage Amount Is: $ CMHC Premium Amount Mortgage Amount Submit Section Value: 2I 0 Section 4 - Mortgage Calculation Instructions You Have Decided to use a 20 year Amortization for your Mortgage. Use this information to find the MONTHLY mortgage PAYMENT using the mortgage amount from previous section and a rate of 3.93%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 3 Years and 8 Months. Input all the WM variables and answers into the fields below. Mortgage Amount From Previous Question Amortization Do Sections l-3 Prior to 20 Years Section 4 P'I Months P2 Months P/Y El Present VOIUB Of LOCI" {PV E E E Number of Periods (N) |:Monthly Payment EMU] |: BALANCE OWING {BALI 1 Mortgage Rate As % (I/Y) Value At End of Loan {FV} PRINCIPAL PAID {PRN} I 3.93 E E Section Value: 7 INTEREST PAID (INT) Submit Answers I E Instructions Find the MONTHLY mortgage PAYMENT of stress tested(+2%] on your rate of 3.93% with a 25 year amortization mortgage. You will use the mortgage amount from previous sections. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 3 Years and 8 Months. Input all the TVM variables and answers into the fields below. Mortgage Amount From Previous Question Amortization Do Sections 1-3 Prior to 25 Years Section 4/5 I l P/Y El Present Value of Loan {PV PI Months P2 Months E E E Number of Periods (N) |:M0nthly Payment EMU] |: BALANCE OWING {BAL} 1 Mortgage Rate As % (I/Y) Value At End of Loan {FV} PRINCIPAL PAID {PRN} l E E Section Value: 7 INTEREST PAID (INT) Submit Answers 1 1 Section Value: 13 Instructions Please determine the amortization for the following two Submit Answers payment frequencies using the mortgage amount: $. Monthly PMT from Section 4 (HINT: Solve for N and adjust your mortgage payment from section 4.) Payment Frequency 1 Payment Frequency 2 Weekly Accel. Bi-Weekly P /Y C/Y P/Y C/Y Number of Periods (N) Number of Periods (N) Mortgage Rate As % (1/Y) 3.93 Present Value of Loan (PV) Payment (PMT) Payment (PMT) Value At End of Loan (FV) Amortization in Years (2 Decimals Amortization in Years (2 DecimalsInstructions The City of Edmonton has assessed your property at a value of $465484.71 and the Mill Rate is 8.6869. What are the Annual and Monthly property tax amounts? Annual Property Tax Amount Monthly Property Tax Amount Instructions You will be getting possession of the home on July 1 st. What will the property tax adjustment be? Who will have to pay? Adjustment Amount Who Pays Adjustment? Section Value: 6 Submit AnswersPart I With your Annual Income of: $136106.03 and the figures you already determined for a Stress Tested Monthly Mortgage Payment, and Property Tax of $, calculate Gross Debt Service Ratio. Assume the cost of heating the home will be $208.46. Do you qualify to purdtase this home based on GDS Ratio? If not, what is the income that you would require? |: Total Monthly GDS Expenses ] |: GDS Ratio as a % I lo: 3.45% J |: Do they Quality on (308? 1 Part 2 If you have consumer debt servicing in the amount of $1 065.7 per month. What is the the TDS ratio? Do you qualify for the purdtase based on this number? If no, what is the income required to qualify? |: Total Monthly TDS Expenses ] |: TDS Ratio as a % I ie: 3.45% J |: Do they Qualify on TBS? j