10 Mistakes to Avoid in Rent-to-Own For most people, a home is the largest purchase they’ll ever make, so choosing the wrong property can have disastrous implications for their wallets and well-being. Still, many homeowners feel a strong sense of pride in putting their mark on the property, building equity and having a place to [...]
Wondering how the rate increases (and subsequent stress test increase) would impact your ability to qualify for a mortgage? Suppose your household income is $120,000, you have good credit and you want to buy a condo in a major urban centre. Let’s say the property taxes are $2,400 and the condo maintenance/strata fees are $360 [...]
You have heard the term, maybe on the radio, in a newspaper or in the news. Stress Test. But what is it exactly? A mortgage stress test is a way of determining exactly how much you can afford (and under what circumstances). If your income was reduced or you lost your job, could you still [...]
