New22 hours ago
290 Newton Drive
Newtonbrook East, Toronto
$1,199,900
Detached|Backsplit 3
3 | 3 | 6
About this home
*Power of Sale* Attention Builders and Renovators. Detached Backsplit On An Oversized Pie Shaped Lot In Newtonbrook East. Property Being Sold On An As-Is, Where-Is Basis And The Seller Makes No Representations Or Warranties.
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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $6,142
- Property tax
- $727
- Heat allowance
- $150
- Housing costs
- $7,019 / mo
Lenders cap these at 39% of gross income — that sets the number.
Down payment20% · $239,980
25-yr amortization
Income needed
$216,000
gross annual household income
- Payment at 4%
- $5,049 / mo
- Cash down
- $239,980
Assumes no other monthly debts · 25-yr amortization
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