Canada Mortgage Hub Discussion Board

Canada Mortgage Hub Discussion Board



SearchSearch   Members      Login
Today: 17.01.2018 - 21:49:34
   Canada Mortgage Hub Discussion Board -> Mortgage Winnipeg -> Buying first home?
Autor Post

prtp

User



Statistic:
Total topics: 15
Total posts: 42
Reputation: 942 ±
Penalties: 0
Buying first home?
--------------------------------------------------
--------------------------------------------------
Canada mortgage lenders
Post # 1.

popmgt002

User




Statistic:
Total topics: 4
Total posts: 42
Reputation: 631 ±
Penalties: 0
first off call 3-5 loan agents and see what programs they have to offer. there is alot of first time homebuyer programs out there that need little down. 2nd if your credits good use yours to buy the house and add him on the title after u close. its called a quick claim deed. i have bought 3 houses this way cuz my wife does not work.
--------------------------------------------------
Post # 2.

proman99

User




Statistic:
Total topics: 8
Total posts: 84
Reputation: 547 ±
Penalties: 0
I am a registered Mortgage broker in Ontario. But same rule applies on mortgage.Some calculation:together made 43000/year.Assume together has 2 credit card and each payment required is 300/month.43000/12 = 3583.33/month before taxtakes 40% from 3583.33 = 1433.33subtract your credit card payment 300 from 1433.33 = 1133.33/month This 1133.33/month is the bank will consider as your maximum affordable mortgage payment.Assume mortgage rate is at 5.25%, and therefore, the price of the house should be around 200k to 210k.Just rough calculation, but its pretty true.For your boyfriend, a credit card is needed for about 6 months for most bank would consider as a *valid* credit to consider. To build credit, any utilties bills, monthly plan cell phone bill, rent(some landlord) would consider credit under credit reporting center.
--------------------------------------------------
Canadian mortgage lender
Post # 3.
1  


Powered by © 1.8 eXclusive