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C$665,000

reducedC$34K

225 Jeffery St, Whitby, Ontario, L1N 6E4

bedrooms 3 Bedroom
|
washrooms 2 Bathroom

MLS - #E9383144

FOR Sale

Description

Welcome to Townhome #7 at 225 Jeffery St in beautiful Lynde Creek| Rarely offered and well-maintained home on a tree-lined street boasting 1410 sq feet| Overlooking Jeffery St Park| This home features a private and inviting foyer, large living room with high ceilings and picturesque window overlooking a private fenced-in yard| Gorgeous custom built solid wood kitchen w/ stainless steel appliances and serene ravine views of Jeffery Park| Main floor laundry and 2 piece powder room| Generously sized Primary bedroom w/ ceiling fan and his/her closets| Maintenance fees include water, snow removal, grass cutting and exterior doors, windows, roof| Includes 1 car garage and exterior storage| Close to all amenities - GO train, 401, 412, schools, shopping, groceries|

Last check for updates

Property type

Condo Townhouse

Style

Multi-Level

Community

Lynde Creek

Lot size

0 Sqft

Garage spaces

N/A

Home Overview

Basement information

Full, Unfinished

Virtual tour

Mls® #

E9383144

Building size

1400-1599

Status

Active

Property sub type

Taxes

$3,195

Tax year

2024

Maintenance fee

N/A

Year built

--

Interior

# total bathrooms

2

# Full baths

2

# of above grade bedrooms

3

# of rooms

8

Family room available

No

Laundry information

Main

Exterior

Construction materials

Brick

Other structures

# garage spaces

N/A

# parking spaces

1

Garage features

Attached

Has basement (y/n)

Yes

Has garage (y/n)

Yes

Drive

Amenities / Utilities

Cooling

Central Air

Heat source

Gas

Heat type

Forced Air

Sewers

Location

Water source

Area

Durham

Community

Lynde Creek

Community features

Fenced Yard, Grnbelt/Conserv, Park, Public Transit, School, Wooded/Treed

Directions

Brock/Dundas

walking  Walk Score for 225 Jeffery St

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1. Determine the purchase price of the home.

2. Calculate the down payment (usually 5-20% of the purchase price in Canada).

3. Subtract the down payment from the purchase price to get the mortgage amount.

4. Choose a mortgage term (typically 5 years in Canada) and amortization period (usually 25-30 years).

5. Determine the interest rate (check current rates from Canadian lenders).

6. Use a mortgage calculator or formula to determine the monthly payment based on the mortgage amount, interest rate, and amortization period.

7. Factor in additional costs like property taxes, home insurance, and possibly mortgage insurance if the down payment is less than 20%.

8. Consider the impact of making accelerated bi-weekly payments instead of monthly payments to pay off the mortgage faster.

9. Review the total interest paid over the life of the mortgage.

10. Ensure the monthly payments fit within your budget, typically not exceeding 32% of your gross monthly income for housing costs.

Terms Explained

Home Value: The current market value or purchase price of the property.

Down Payment: The initial upfront portion of the total home purchase price paid by the buyer.

Mortgage Amount: The amount borrowed from a lender to purchase the home (Home Value minus Down Payment).

Interest Rate: The percentage charged by the lender for borrowing the money, usually expressed as an annual rate.

Mortgage Term: The length of time your mortgage agreement and interest rate are in effect (typically 1-5 years in Canada).

Amortization Period: The total length of time it will take to pay off the entire mortgage (usually 25-30 years in Canada).

Monthly Payment: The amount paid each month towards the mortgage, including principal and interest.

Principal: The original amount borrowed, which decreases as payments are made.

CMHC Insurance: Mortgage default insurance required for down payments less than 20% of the home's value.

Property Taxes: Annual taxes levied by local governments based on the property's assessed value.

Home Insurance: Coverage to protect the property against damage or loss.

Land Transfer Tax: A tax paid to the provincial government when purchasing a property.

Closing Costs: Additional expenses incurred when finalizing a home purchase (legal fees, inspections, etc.).

Prepayment Privileges: Options to pay extra towards the mortgage without penalties.

Fixed Rate Mortgage: A mortgage where the interest rate remains constant for the term.

Variable Rate Mortgage: A mortgage where the interest rate can fluctuate based on the prime rate.

Refinancing: The process of replacing an existing mortgage with a new one, often to take advantage of better terms or rates.

These terms are commonly used in mortgage calculations and discussions about home financing in Canada.
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