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Income needed to pass the stress test

Income needed to pass the stress test

Numbers Assume a 2.99% 5-Year Fixed Mortgage Rate Wth a 25-Year Amortization. The average price of a home in Canada is $491,000 according to the Canadian Real Estate Association (CREA). And if you take out Toronto and Vancouver, the national average is slipped to 2%...
How To Stress Test Your Mortgage

How To Stress Test Your Mortgage

What are the things do I need to consider before engaging to real estate or mortgage? I was thinking to buy a house, and I have so much thinking and planning to consider. I need to assess myself if I could afford it and layout all the possible worst-case scenario in...
Mortgage Stress Test Expanded to more Homebuyers

Mortgage Stress Test Expanded to more Homebuyers

On behalf of JCA Law Office on Friday, July 20, 2018. Until this year, homebuyers needed to buy mortgage insurance if they could only afford to pay between five and 20 percent of the price of the property in their down payment. Only these homebuyers had to pass the...