Home Purchase Mortgage

Do you know there are associated costs to consider in the purchase of a home or condo. Prior to taking possession of your home. You will need funds available to cover the following:

• Deposit
• Appraisal fee
•  Home inspection fee (option)
• Property or Home insurance
•  Property tax
•  Land transfer tax or Land Registration fee
•  Status certificate fee
• Title insurance
•  Legal fees and disbursement

Do you know there are different guideline to qualify between prime lenders and Alternative lenders?

Prime lenders require GDS/TDS: 39/44%

Alternative lenders require GDS/TDS: 45/50%

GDS = PITH/Total income

TDS = PITH + All other debts / Total income