Sample RTO Home Cost
When considering eligibility for RTO programs, one of the key considerations is to ensure ownership costs for the selected home are in line with our clients financial situation to enable a successful future transition to conventional bank financing. To help you gauge how the cost of ownership for an RTO home aligns with your finances, three sample properties covering a range of sizes and locations are described below.
Note: These examples are for illustrative purposes only. Prices vary on a case by case basis (e.g. house plan, location, lot size, current interest rates). Prices for each RTO home are determined based on details of that specific property.
Description: 1200 sq ft wheelchair accessible 3 bedroom bungalow with full basement in Kenmount Terrace, St. John`s.
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Price: $300,000
Downpayment: $15,000
Initial Closing Costs: $500
Monthly payment: $1,698/mo POU
Annual Costs: Taxes & Insurance
Description: 1000 sq ft 2 bedroom slab on grade bungalow in Holyrood, NL
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Price: $250,000
Downpayment: $12,500
Initial Closing Costs: $500
Monthly payment: $1,415/mo POU
Annual Costs: Taxes & Insurance
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Description: 1300 sq ft 2 story with attached garage and basement apartment in Paradise, NL
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Price: $379,900
Downpayment: $18,750
Initial Closing Costs: $500
Apartment Income: est. $700/mo
Monthly payment: $2,150/mo POU
(less apartment rent = $1,450)
Annual Costs: Taxes & Insurance
