Tag: payment calculator

The Mortgage Stress Test: What Can You Afford in Victoria, BC?

If the thought of passing the mortgage stress test is bringing back memories of sweating through high school exams, you’re not alone. The government originally introduced a minimum qualifying rate in 2016 to ensure that borrowers would be able to afford their homes even if interest rates rise, incomes change, or families are faced with

How to Qualify for Your First Mortgage

Buying your first home can be confusing. When we talk about qualifying for your mortgage, we mean looking at the ratio of your debt vs. your income and seeing whether you will realistically be able to make mortgage payments. Your Debt Service Ratio When it comes to your finances, a lender will want to know

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