Edmonton Military Relocation Realtor
Posted to Edmonton and wanting to purchase a home. You will be faced with a multitude of decisions! The primary one is whether you are actually prepared to purchase a home. Locating the perfect home is not always an easy task, and obtaining a mortgage loan can be a complex and tiring process. Although, once you have determined that you are ready to move forward with the required effort towards your home-purchasing goal, the rewards are unquestionable.
How to estimate affordability
There is a rule of thumb about how much you can afford, based on the calculations your mortgage provider will make. Your lender will use two debt ratios when determining whether you can afford a mortgage. These ratios are called the Gross Debt Service (GDS) ratio and Total Debt Service (TDS) ratio. They take into account your income, monthly housing costs and overall debt load.
The first affordability guideline, as set out by the Canada Mortgage and Housing Corporation (CMHC), is that your monthly housing costs – mortgage principal and interest, taxes and heating expenses (P.I.T.H.) – should not preferably not exceed 32% of your gross household monthly income, up to a maximum of 39%.
While at your side each step of the way, I will make the process of purchasing a home easier, more enjoyable, less time-consuming, and less expensive than if you undertook this challenge on your own. I will help you prepare so that sellers perceive you as a preferred buyer, help you locate and assess properties for sale that match your specifications, and help you through the myriad of details attending the actual purchase.
FINDING THE RIGHT HOME FOR YOU
Once you’ve been pre-qualified and know what price range you want to stay in, we can help you determine which properties fit your needs by using the MLS tools available to locate them. We have the best possible resources and communication systems available today to help you locate the homes on the market that match your specifications.
With thousands of homes sold ranging from single family homes to downtown condos, we provide the information you need when looking for houses for sale. See our open house listings, current listings, average prices and days on market along with other details to make an informed decision. Buying or selling a home is a big decision