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Brant, Burlington
$899,900
ALL BRICK 3 BEDROOM BUNGALOW LOCATED ON A QUIET TREE LINED STREET IN SOUTH BURLINGTON.WITHIN WALKING DISTANCE OF THE DOWNTOWN AND SCHOOLS. THIS HOME FEATURES A TRADITIONAL FLOOR PLAN WITH DINING ROOM AND LIVING ROOM. FEATURES INCLUDE HARDWOOD FLOORING, STONE FIREPLACE AND LARGE REAR YARD. INCREDIBLE OPPORTUNITY FOR THE BUYER LOOKING TO RENOVATE A SOLID HOME IN A GOOD NEIGHBOURHOOD. THE CORNER LOT PROVIDES FOR A OPPORTUNITY TO REIMAGINE THE EXISTING LAYOUT PRIVATE REAR ENTRANCE TO LOWER LEVEL ALLOWS FOR AN IDEAL IN-LAW SUITE. SHORT WALK TO THE GO STATION.
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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $4,606
- Property tax
- $465
- Heat allowance
- $150
- Housing costs
- $5,221 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$161,000
gross annual household income
- Payment at 4%
- $3,787 / mo
- Cash down
- $179,980
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
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