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Delinquencies rising for borrowers with $400k+ mortgages, CMHC report shows
– canadianmortgagetrends.com
Mortgage affordability calculator
– moneysense.ca
Mortgage affordability is an essential part of setting up your home-buying budget, and it’s based on a many factors—more on those later. If you’re looking to buy a home, one of the first things you’ll want to know is your mortgage affordability. And for that, you should start by consulting an online calculator.
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What is mortgage affordability?
When people say “mortgage affordability” they’re referring to the maximum mortgage amount someone can afford to borrow, based on their gross income, debt payments and living costs. In short, the higher your mortgage affordability amount, the more money you could borrow to buy your new home.
What factors help to determine mortgage affordability? These include your gross household income, the monthly expenses associated with the property you want to buy (think: mortgage payments, property taxes, heating costs and condo fees), as well as your debt obligations (credit card payments and car loans)…
The clock is ticking for Ontario brokers wanting to arrange private mortgages
– canadianmortgagetrends.com
