Mortgage affordability in Canada is one of the first things to look into if you are looking to become a first-time home buyer, relocating to another province and purchasing a home, or purchasing a more expensive home –you will want to know if you can afford to purchase a home.
As a first-time home buyer, you want to ensure that you can afford a mortgage. Some things to do before you finalize a mortgage include:
- Check your credit
- Improve your credit score is it’s poor
- Set a budget for the mortgage that you can afford
- Take into consideration other costs like closing costs, moving, and so on
A mortgage calculator can also help you if you already have a mortgage. You can use the calculator to research mortgages to replace your existing one or to refinance.
Income Qualifier Calculator