BC Mortgage Consultants - Mortgage Qualification

Mortgage Qualification

Use the following information to determine approximately how much mortgage financing you qualify for.
The numbers in the table below are approximations and are intended to be used for rough calculations only.

To find out exactly how much mortgage you qualify for you should complete our online application or contact us. It won't cost you anything and you'll know exactly where you stand.

Gross Income

Mortgage Amount

$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000

$57,000
$133,000
$207,000
$280,000
$356,000
$428,000
$504,000
$573,000

Figures based on 3 year term at 7.00%

* Assumes other debt is limited.
* Assumes good credit history.
* Assumes stable full time employment.
* Estimates made for heat, taxes & maintenance.

Minimum downpayment requirements

Owner Occupied	- Conventional mortgage - 25% of purchase price - C.M.H.C. insured - 10% of purchase price - C.M.H.C. insured - 5% if purchase price is less than $250,000 in Greater Vancouver (plus 1.5% of purchase price to cover closing costs). More information about C.M.H.C.'s 5% down program
Investment Property	- Conventional - 25% of purchase price - Larger downpayment may be required on higher priced purchases. - C.M.H.C. insured - 15% of purchase price

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Contact Info

Phone: 604 377-3108 Fax: 604 454-1697
Email Theresa

* In some circumstances Lender and/or Broker fees may be charged.

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