Your gross debt service (GDS) ratio is your housing costs divided by pre-tax income. Your total debt service (TDS) ratio includes payments on any other debts you may owe. When determining how much you can afford when buying a home, lenders will look at two significant factors: your gross debt service (GDS) ratio and your total…
The rapid run-up in mortgages during the pandemic represents a “pocket of risk” to the financial system but Canadian lenders are starting to get the problem of ultra-long home loans under control, according to the country’s bank watchdog. “During the Covid years, the principal unintended consequence of what we went through was this buildup in…
Heavy restrictions are making it difficult for people to make life changing decisions such as buying a house this winter. However, if you’re a qualified buyer, you could definitely consider it! Canadians will be spending more time at home this 2021 winter – living, working, studying, playing, working out, and so on. Is there really…
Wrapping up the end of the summer this week with yet another inspiring guest blog! This time, it’s Chris van Kasteren from London, ON. Growing up in a family of 6 in a local Lucan, ON farm, he was raised to treat future clients like family and keep a strong work ethic. ———– I grew…
This weeks’ blog is dedicated (and a warning!) to those who want to buy their first home. The following are suggestions of what NOT to do in the purchase process. Buying the wrong home is too big of a financial mistake to make, so take your time and as they say, “enjoy…
It has been a while since we have touched back on this topic, and given summer is a season where many transactions take place in the real estate market, we thought it could be a good idea to remind upcoming homebuyers of the process behind a future purchase. A mortgage…
