What Can I Afford?
It is important to determine the maximum amount of the
mortgage that you may qualify for before you start to look
for your new home and it's simple.
Then determine the affordable mortgage amount that you
feel most comfortable with, add your estimated down payment
to this amount and you are ready to start looking.
Land Transfer Tax.
* These calculations are estimates to be used
as a guideline only and subject to final approval by the
lending institution of your choice
Getting off to the right start can save
you both time and money, just to mention two of the
advantages of knowing exactly how much you can afford at the
very beginning of the buying process. With a pre-approved
mortgage, you can hunt for the right home and at the right
price, knowing that you will qualify for the mortgage. A
pre-approved mortgage and rate guarantee lets you lock in
your interest rate for as long as 60 - 90 days, if interest
rates increase during this period, yours won't. If your
mortgage is funded within the guaranteed period and interest
rates are lower on the funding date, you will receive the
lower rate.
