Under your rent
40
$350,000
$275/sqft
3 bd · 2 ba · 1,274 sqft
#91, 41168 Lougheed Highway
Mission · Manufactured Home
~$1,659/mo
Listed by Royal LePage Elite WestMLS® R3172728
Rent vs own
$2,000 a month in rent buys a $422,000 home in Mission
At a 5.19% posted rate, 20% down and 25 years. 70 Mission homes are listed at or under it.
- Purchase price
- $422,000
- Down payment
- $84,000
- All-in monthly
- $2,538/mo
- Homes listed
- 70
Source: Current MLS® listings.
Your rent
$
a month
The price your rent could cover
$422,000
20% down assumed ($84,000). 70 homes listed at or under it in Mission.
Of the first payment, about $554 goes to the loan itself. Tax, strata and insurance would bring the all-in price closer to $315,000.
- Purchase price
- $422,000
- Down payment
- $84,000
- All-in monthly
- $2,538/mo
- Homes listed
- 70
Source: Current MLS® listings.
Mission homes your $2,000 rent could own
70 active listingsOpen these Mission homes on the map
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Under your rent
17
$269,000
$288/sqft
2 bd · 1 ba · 934 sqft
#41, 43201 Lougheed Highway
Mission · Manufactured Home
~$1,275/mo
Listed by Real Broker BC LtdMLS® R3167152
Under your rent
16
$189,900
$186/sqft
2 bd · 1 ba · 1,022 sqft
#81, 10221 Wilson Road
Mission · Manufactured Home
~$900/mo
Listed by Royal LePage Little Oak RealtyMLS® R3172086
Under your rent
23
$199,999
42269 Bergen Road
Mission · Land
~$948/mo
Listed by Oakwyn Realty Ltd.MLS® R3174253
Under your rent
28
$149,000
#200, 8400 Shook Road
Mission · Land
~$706/mo
Listed by RE/MAX LIFESTYLES REALTYMLS® R3120200
Under your rent
19
$389,000
$665/sqft
1 bd · 1 ba · 585 sqft
#216, 31900 Raven Avenue
Mission · Apartment/Condo
~$1,844/mo
Listed by HouseSigma Inc.MLS® R3173602
Under your rent
28
$265,000
$341/sqft
1 bd · 1 ba · 776 sqft
#329, 7436 Stave Lake Street
Mission · Apartment/Condo
~$1,256/mo
Listed by RE/MAX MagnoliaMLS® R3173468
Under your rent
34
$359,900
$212/sqft
2 bd · 1 ba · 1,696 sqft
#106, 43201 Lougheed Highway
Mission · Manufactured Home
~$1,706/mo
Listed by Royal Lepage Wheeler CheamMLS® R3173409
Under your rent
40
$399,900
$301/sqft
2 bd · 2 ba · 1,328 sqft
#112, 10221 Wilson Street
Mission · Manufactured Home
~$1,895/mo
Listed by eXp Realty of Canada Inc.MLS® R3124295
Under your rent
27
$399,880
$961/sqft
1 bd · 1 ba · 416 sqft
#148 151 – 8400 Shook Road
Mission · Recreational
~$1,895/mo
Listed by Homelife Benchmark Realty Corp.MLS® R3021686
Under your rent
40
$339,900
$293/sqft
2 bd · 2 ba · 1,160 sqft
#6, 41711 Taylor Road
Mission · Manufactured Home
~$1,611/mo
Listed by Royal LePage - WolstencroftMLS® R3163195
Under your rent
6
$159,000
#158, 8400 Shook Road
Mission · Land
~$754/mo
Listed by Royal LePage Little Oak RealtyMLS® R3118370
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
The math
| Rent you pay | $2,000/mo |
|---|---|
| Interest rate | 5.19% |
| Amortization | 25 years |
| Down payment (20%) | $84,000 |
| Mortgage supported | $338,000 |
| Purchase price | $422,000 |
| Tax, strata and insurance | $538/mo |
| All-in monthly | $2,538/mo |
Assumptions
- Rate
- 5.19%, the posted five-year fixed rate. Illustrative, not a quote.
- Amortization
- 25 years
- Down payment
- 20% ($84,000 on $422,000)
- Property tax
- 4.44 per $1,000 of value
- Strata
- $320 a month, an estimate
- Insurance
- $62 a month, an estimate
An estimate, not a mortgage approval or financial advice. Change the rate, down payment or amortization in the calculator and the figures update.
Questions
$84,000, or 20% of $422,000.
The mortgage payment is. Tax, strata and insurance add about $538/mo, for $2,538 in total.
Other rents in Mission
Prepared by
Written and maintained by Ray Rasouli, REALTOR®, licensed in British Columbia and founder of Relta Real Estate.
Data
Source: MLS® listing data from BC real estate boards (MLS® Reciprocity) and CREA's DDF®.
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy. The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. MLS®, Multiple Listing Service®, and REALTOR® are trademarks of the Canadian Real Estate Association (CREA).
CorrectionsReport a correction
A mortgage broker can confirm what you qualify for.