This calculates the monthly payment of a $170k mortgage based on the amount of the loan, interest rate, and the loan length. It assumes a fixed rate mortgage, rather than variable, balloon, or ARM.
Here are the monthly payments for a $170,000 home loan based on a down payment and current mortgage rate averages from Freddie Mac as of May 30, 2019. Check LendingTree to see current rates from multiple lenders or view the mortgage providers listed below.
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For every $100,000 borrowed Canada Mortgage and housing corporation charges a slightly higher, one-time premium of $250 for the Flexible down payment mortgage. federal mortgage rules require a minimum down payment of 5%, however they do allow flexibility on $170,000 – $175,000.
*Down payment illustrations are approximate and not an offer to lend. Down payment examples include all necessary closing costs such as Use our Reverse Mortgage for Purchase Calculator to estimate your down payment requirement or call us toll free (800) 565-1722. Useful Links