Heed some advice on how to best set yourself up to maximize the mortgage and purchase price you are able to afford as a buyer! When working on applications for clients, I need to take two debt servicing ratios into account. One is called the Gross Debt Servicing Ratio and the other is the Total … Continue reading How to Maximize Your Purchase Price
Given the recent introductions of new rules proposed by the government — I am compelled to write a post on how these changes are going to affect any homebuyers, especially those who have worked hard to save their hard-earned money, or current home equity, for a 20% down payment. For those who are getting up to speed: … Continue reading New Mortgage Rules: For Better or For Worse?
As the real estate market begins to cool down after an intense first half of 2017, here are a few points to consider when it comes to purchasing a home with inflated purchase prices. Mortgage Lending Lenders will only fund mortgages based on the purchase price or value of the home, whichever is lower. That … Continue reading Buyer Beware — Purchasing a Home in an Inflated Housing Market