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20518 89B Avenue, Langley
 
 Style: 2 Storey
 Age: 13
 Bedrooms: 4
 Bathrooms: 3
 Ensuite: Yes
Square Footage: 2,259
 Lot Size: 5,013 Sq Ft
 Parking: Multiple Garage
 Basement: Crawl
 Taxes: $3,393 (2007)
 Fireplace: 2 Gas
 School: Close


 

MATCHLESS, METICULOUS and MEMORABLE! From the captivating cul-de-sac street appeal to the hardwood floors; from the private greenbelt lot to the granite counter tops; from the cozy Family Room to the elegant Living Room, this exceptional home in Walnut Grove's prestigious Forest Creek neighbourhood is above the expected. This exceptional home offers a quality of lifestyle envied by most. The tiled foyer leads you into the entertainment-sized Living Room, accented by large windows and a gas fireplace, while the Dining room's alcove, banked by slim windows, awaits your buffet and hutch. The Kitchen gleams with granite countertops and tiled backsplash. Bayed windows hug the large Eating Area. This overlooks the Family Room, which hosts a gas fireplace and hardwood floors. From the Family Room, French doors usher you to the fenced backyard. Towering evergreens provide privacy while you enjoy a bar-b-que or a relaxing soak in the hot tub. Upstairs the luxurious Master Suite features a walk-in closet and an ensuite, boasting a soaker tub and a separate shower. Three other Bedrooms are teen-sized with plenty of room for sleep, storage and study. A sparkling 4 Piece Main Bathroom completes the upstairs which emphasis that this exceptional home gives your family numerous living spaces and private places. This exquisite home is unequalled.

Even amongst such elegant decor, this splendid home still has "family appeal" and seems to invite you to cuddle in and stay awhile ... it's home!
 
 

More about Financing

Mortgage loans are available from banks, credit unions, trust companies, insurance companies, finance companies, private lenders and mortgage brokers. It pays to shop several places for the best mortgage loan deal!

What is a mortgage?

Obtaining a loan to finance the purchase of your new home will probably require you to sigh a document called a mortgage. This document will set out the terms and conditions for the loan and its repayment. If you fail to meet your debt obligations, the lender will have the right to claim your home to pay off what you still owe.

What types of mortgage loans are there?

All mortgage loans are of two basic types:

A conventional mortgage loan allows borrowing up to 75% of the purchase price or the appraised value of the property, whichever is less.

A high-ratio mortgage loan allows borrowing more than 75% of the purchase price or the appraised value of the property, whichever is less. But the borrower must pay a mortgage default insurance premium to protect the lender if the payments are not made. This premium can be as much as 3% of the loan amount.

What is an amortization period?

Typically, the size of a mortgage loan payment is calculated as if the loan payments were going to be paid over 20 or 25 years. This is called the amortization period. Each payment will repay the interest due up to the payment date along with some principal owed.

The longer the amortization period you choose, the lower the regular payment will be. Keep in mind that the faster you repay any money borrowed by choosing a shorter amortization period, the more you reduce the total cost of borrowing.

What is a term?

Most mortgage loan contracts only permit the regular payments to continue for a specified term that is shorter than the amortization period. The term can be as short as six months, or it can be five years or more.

At the end of the term, you are required to repay the full-unpaid balance. If you don’t have the cash required to pay the balance, it is necessary to refinance the loan.

Deciding on the length of term you want will depend partly on whether you think interest rates will go up or down. Keep in mind that the longer the term you choose, the longer your monthly payment remains stable.                        

CAUTION: The lender is not obligated to renew your mortgage loan at the end of the term.

Can a mortgage loan be repaid at any time?

The answer to this question can be found in the payment clause of the mortgage document. Some mortgages, generally referred to as open mortgages, may be repaid at any time the borrower wishes. Other mortgages generally referred to as closed mortgages cannot be repaid until the end of the term or are subject to an interest penalty for early payment. Ask your lender about this clause!

You may wish to look for a portable mortgage. Some lenders will arrange a mortgage loan that can be transferred to another property if you decide to move.