Stress Test – How Much Home Can You Buy with $120,000 Income?

By |2023-01-09T12:50:05-05:00January 9th, 2023|Buying a New House, Housing Market, Interest Rates|0 Comments

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 [...]