How much home could your rent buy?

Mortgage rates continue to be wonderfully low and, in fact, homeowners are locking in some of the lowest rates in history. This Great Canadian Mortgage Sale is a good time to take a look at how much mortgage you could afford given your current rent. Your dream home may be more affordable than you think!

Rent Today                               Mortgage Tomorrow*                       Home Purchase

$1,250                                        $264,420                                                $271,343

$1,500                                        $317,304                                                $325,312

*Assumes 25 year amortization, 5% down payment, 2.75% mortgage insurance premium, 5 year term, 2.99%, OAC, subject to change. For illustration purposes only.

Keep in mind that home ownership involves costs beyond the monthly mortgage payment like utility bills, insurance, and property taxes. We can help you determine what you can comfortably afford.

Get pre-approved today and have your rate held for 120 days!

This way you don’t have to worry about rates rising while you are house hunting, and both realtors and sellers will know you’re serious, which means you’ll be in a good position to get the home you want.

Your monthly rent cheque doesn’t have to be money out the window. It could be building you equity in your own home.

Don’t miss out on the Great Canadian Mortgage Sale!

Call us today, we are here to help.