Oct 6th 2016
In today’s market many Canadian’s want to know, what options they actually have.
Below is a table of 11 examples of approximately what your income qualifies you for in mortgage.
Keep in mind if you carry debt outside your mortgage this will decrease your amount and if you’re self-employed you may show less gross income than you actually earn. Also, if your property has an income generating suite that will add income to your file.
Income Amount Annually= Mortgage Amount
You can likely see the trend that every 10k in income amount generally qualifies you for 50k in mortgage. When budgeting for your payment every 100k in mortgage is on average $445/month
Providing clarity is what we do, we look forward to helping you personally.
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