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Northwood Park, Brampton
$524,999
First time buyers, investors or renovators - here is your opportunity to own the lowest-priced home in Northwood Park! You will not be able to find a fully detached 1,053sqft bungalow on a 61 ft x 100 ft lot, with a garage and separate entrance, for this price in this area!! Situated in an established neighbourhood directly across from an elementary school, minutes to Northwood Park and many amenities, and just a 10 minute walk to Shoppers World and public transit, this location can't be beat. While this home will require updating and improvements, the solid bones and desirable location provide a chance to breathe new life into an existing home and endless potential. Features include a separate entrance, an extra deep detached garage for a small vehicle or storage, 100 amp electrical service, sun-filled main floor rooms and an over-sized yard. Don't miss this opportunity!
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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $2,687
- Property tax
- $446
- Heat allowance
- $150
- Housing costs
- $3,283 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$101,000
gross annual household income
- Payment at 4%
- $2,209 / mo
- Cash down
- $105,000
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
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