How much can you afford?
- Calculate your estimated total cost of owning a home
- Estimate the minimum down payment you need
- Calculate the estimated maximum loan you can borrow
- Stress test your mortgage...meaning the app automatically applies government quidelines required to determine how much you can borrow
- Estimate your Closing costs like legal fees land/property transfer tax and land title expenses
Let this be a starting point, not "your final pre-qualification answer". Why, with advice from us, you may be missing a strategy unique to your application that could increase you borrowing capacity. For example, you may have:
- One or more student loans that could potentially reduce your buying capacity...there can be a strategy to reduce or eliminate any impact on how much you can borrow!
- A partial or complete gifted down payment from an immediate family member...there can be a tax strategy to consider!
- Other debt like credit cards, a line-of credit, a car loan or lease...a global look at all your financial circumstances may map out an entirely different ownership pathway than any calculator could present to you.
- Get pre-qualified professionally and then get pre-approved and a rate guarantee!
- Bottom line - experience a strategy...not just a mortgage®