Market Mondays: What Does $22.8Million Dollars Get You In West Vancouver?Posted: January 20, 2014
Last week we featured a spectacular property on the waterfront in North Vancouver. This week we thought we’d show an even larger estate located on 2.36 acres in West Vancouver, bordering world-famous Lighthouse Park. Incredible European finishing lends a distinct Italian feel to this one of kind property.
As always, a picture tells a thousand words. Check out the full listing at: http://www.soprovich.com/home2241.html
Just for fun, as mortgage brokers we couldn’t resist working out the payments on this home! You would need a minimum down payment of $11,025,000 (sorry, no 5% down purchases at this price point) for a mortgage of $11,775,000. With a variable rate mortgage, at our standard 2.5% rate, the payments would be a very reasonable $46,446.41 per month. And please do not forget to bring a certified check to the lawyer on closing for $454,000 made out to the Province of British Columbia for the property transfer tax!
Qualifying income, on approved credit of course, would need to be in excess of $2,000,000 per year. Not to say we might obtain approval strictly based on the down payment and your personal credit worthiness. Want to know what you qualify for or what rates are available? Drop us a line at http://www.meridianmortgage.net/ . We look forward to hearing from you!