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Before you start house shopping there are a few things about getting a mortgage that are very important for you to consider:




  • what can I afford
  • will i get pre-approval


According to "Affordability is based on the household income of the applicants purchasing the house, the personal monthly expenses of those applicants (car payments, credit expenses, etc.), and the expenses associated with owning a home (property taxes, condo fees, and heating costs)."

Here is a great tool for you to determine how MUCH you can afford!  Thank you again, for this great tool!


``Lenders look at two ratios when determining the mortgage amount you qualify for, which generally indicate how much you can afford. These ratios are called the Gross Debt Service (GDS) ratio and Total Debt Service (TDS) ratio. They take into account your income, monthly housing costs and overall debt load.``

If you do not know a mortgage broker yet, please let me know and I will introduce you to one of my recommended and trusted colleages to help you with your mortgage questions.

Till next time ...


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