Many Buyers Finding They Pay Less In Mortgage Payments Than They Did In Rent
Nova Scotia, Canada -- (SBWIRE) -- 03/19/2013 -- According to TD Canada Trust, depending on the mortgage, 5-20% of the purchase price is required for a down payment on a home, with today's new mortgage rules. However, Trevor McKay of North Grant Park, a mini home park Antigonish establishment says they are currently able to help people get approved for mortgages easier than buyers ever thought possible. Says Mckay, "Helping good people navigate the murky waters of mortgage approval is our specialty. We consider it so important that we’ve put together a "New Home Buyer's Guide" that includes everything they need to know to get their mortgage approved faster and more easily than they thought possible."
In fact, with combined family incomes as low as $30,000 per year, McKay says they can put buyers into a home. Says McKay, "If your total household income before deductions is $30,000 per year or more, you could easily qualify. If two of you are working (you and your spouse or significant other), that means you only need to be making $15,000 per year each to be able to afford one of our brand new homes. And remember, that’s before taxes and other deductions are taken out. That equals about $650 per week before deductions for one person working and $325 per week if two of you work."
The mini-home park consists of new and pre-owned two and three bedroom, one bath homes priced lower than what most people pay in rent, says McKay. "We’ve got 3 bedroom, 1 1/2 bath brand new homes, complete with heat pumps and air conditioning for less than $700.00 per month, including lot rent, maybe a lot less, depending on your down payment and the home and options you pick out. The monthly payment is dependent upon a variety of factors including down payment, final price of the home, current interest rate, policies and procedures of the lender, etc, but we have had a lot of buyers say they used to pay more than that in rent."
McKay explains North Grant Park provides homes for those who thought they couldn't afford to buy a house in today's economy. "Real Estate prices can get expensive, but what we've got here is a spot in the heart of Antigonish, an affordable, quiet, tree-lined mini-home community, only two minutes from downtown, yet perfectly situated in a peaceful country setting. Without highway noise or congestion, it's the perfect place to call home. It's perfectly suited for old and young alike, as long as you're quiet and respectful. Many of the homes yards back right onto the forest, so if you’re a nature lover, or just like quiet surroundings without the hustle and bustle of town life, this could be your dream location."
About North Grant Park
North Grant Park is situated on 28 acres of land two minutes from Main Street in Antigonish. The park consists of three streets and a total of 66 mini-home lots. The goal of the park is to make new home ownership easy and affordable, encouraging good citizenship through home ownership.