December 2015

Your mortgage size is determined by three factors; your mortgage payment, the interest rate, and the amortization period. Once you calculate the size of your monthly payment you can use the other two variables to figure out just how much you can borrow. Your time-frame for repayment and the interest rate you get make a huge […]

The usual rule for figuring out the size of your mortgage payments versus you income is a maximum of 35% of your gross income for property taxes, heating, mortgage payments and ½ your condo fees (if applicable). A maximum of 42% of your gross income is used if you have additional debt payments. The percentages