Typical Costs Related to Mortgage Financing
| Item | Freehold | Regular Condominium |
Land Condominium |
Estimated Costs |
|---|---|---|---|---|
| Property Appraisal |  |
|
|
$200.00 to $300.00 Sometimes waived |
| Mortgage Default Insurance Premium for High-Ratio Mortgages added to the Loan Amount | |
|
|
Varies. Can range between 2.00 % to 3.15 % of the Loan Amount |
| P.S.T. for Mortgage Default Insurance Premium | |
|
|
8.00 % of the Premium |
| Deposits For Property Taxes If Required |
|
|
|
6 months’ payments for high-ratio mortgages |