Escape to Salt Spring

Calculators

Let Scott's handy mortgage calculator will help you find out what you can afford to buy on Salt Spring! This mortgage calculator will help you determine loan amounts, mortgage qualification, or whether you should be renting on Salt Spring or buying on Salt Spring.

Complete the fields below (e.g., Cost of Home, Down Payment, Monthly Income) and click Calculate Now. To view the different results of your calculation, click on the various tabs. To mail yourself a copy of your results, click the Receive this Detailed Analysis link. If you have any other questions of buying on salt spring don't hesitate to call or email me. To buy on Salt spring or not is the question? If you have any doubts read "Paving Paradise" By Michael Kluckner and you to will be convinced to buy on Salt Spring.

Required


Term In Years:

Interest Rate:		%

Cost of Home:	$

Down Payment:	$

Annual Insurance:	$
Estimate Insurance to 0.43%of Cost

Annual Property Tax:	$
Estimate Tax to 1.2%of Cost

Monthly Income:	$

Monthly Debt:	$

Optional

Gross Debt Service Ratio (GDS):
Total Debt Service Ratio (TDS):
Condos Fees:	$

Results

Receive this Detailed Analysis

Mortgage

Qualification

Affordability

Rent vs Buy

Your Monthly Payments

Loan Amount:
Loan Insurance ( %):
Total Loan(Mortgage) Amount:

Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:

These articles are from the wall street Journal

These articles always have something of interest if you are thinking of buying on salt spring. If you need to borrow to buy on salt spring my advise is:

shop around
don't over borrow
buy what you can afford
lock it in for as long as you can
go for as short amortization as you possible
pay it off as fast as possible
make the extra payment even once a year at the start

Even if you don't need to borrow the money to buy on salt spring it is worth while to keep up on interest rates because as house values increase reversed mortgages or line of credit equity withdrawals are becoming a viable retrierment option. See Scott's book store for some interest books on retrierment.

WSJ.com: Real Estate
Fannie Aims to Head Off Foreclosures	5/9/2008 3:45 PM
Fannie Mae is preparing a program of refinancing mortgages for people who owe more than the current value of their homes. The plan is the latest twist in efforts to contain the surge in foreclosures in much of the U.S.
Russia's Abramovich Buys Colorado Ranch	5/8/2008 9:59 PM
Russian oil magnate Roman Abramovich has bought a Colorado ranch for $36.3 million … Baseball great Henry "Hank" Aaron has listed his West Palm Beach, Fla., home that borders a golf course for $900,000 … plus more. Photos
How to Find Foreign Home Buyers	5/8/2008 8:46 PM
June Fletcher explains how to find real-estate agents who focus on foreign buyers – critical now as these home hunters see U.S. properties as bargains.
For Mortgages Underwater, Help Swims In	5/9/2008 6:35 AM
A small fish with a healthy appetite for mosquito larvae is being pressed into service in California, Arizona, Florida and other areas struggling with foreclosures. The problem: swimming pools of abandoned homes have turned into breeding grounds.
House Passes Homeowner Aid	5/8/2008 10:03 PM
The House passed a package of measures aimed at tackling the housing crisis, but bickering signaled turbulence ahead for the legislation.
Mortgage Firms Cool to Principal-Cut Plan	5/9/2008 12:42 AM
A major provision of the housing-market legislation passed by the House Thursday might not help as many borrowers as some expect, trade groups that represent mortgage companies say.
Real-Estate Drop Has a Green Lining	5/8/2008 10:21 PM
Developers are dropping plans to build on some choice pieces of land and instead are selling it for such uses as public parks and nature preserves.
Source of House Data Skews Loan Losses	5/7/2008 9:56 PM
Wachovia and Washington Mutual are using housing-market data that might be less-negative than those used by other lenders.
More Homes Hit Market in April	5/7/2008 8:33 PM
The supply of homes available for sale in major metropolitan areas edged higher in April, new data show.
Keeping Families Above Water	5/8/2008 9:09 PM
The latest flash point in the debate over the nation's bursting housing bubble is this: Since so many American houses are worth less than their mortgages, should the government do more to get lenders to settle for less than the full debt, even if it may cost taxpayers some money?

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250-538-8316

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Scott Simmons
Email Scott

Cell:	(250)538-8316

Salt Spring Island

Scott Simmons
Salt Spring Island and Gulf Islands real estate agent for
One Percent Realty Vancouver Island
2541 A Empire Street
Victoria, B.C. Canada V8T 3M3
Tel 250-220-8600
Fax 250-388-7382

Salt Spring Island, Mayne Island, Pender Island, Galiano Island and Saturna Island REALTOR®

SSI has very poor cell phone coverage, call answering on my cell phone does not work.
To leave me a message please use text messaging.
Cell 250-538-8316
fax number 866-778-6376

Email scottonepercent-website@yahoo.com
this is a spam protected e-mail address

One Percent Realty Ltd.

This site is a DIY by Scott Simmons, who apologizes for any spelling or grammatical errors. If you can think of anything that would make it easier to use send me a note. Thanks Scott.