– · They shouldn’t be basing their purchase price based on what mortgage they qualify for but instead, how much of a mortgage payment are they comfortable with paying every month. For instance, they may qualify for a $2000.00 per month mortgage payment but that doesn’t mean they should be buying a house with payments that high.
TD Mortgage Affordability Calculator | TD Canada Trust – First time home buyers can withdraw up to $25,000, in a calendar year, from their RSPs for a home purchase (up to $50,000 for a couple). They then have 15 years to repay their RSP (other conditions apply). Find out more about the rsp home buyers’ plan.
How to Qualify for a Mortgage with Bad Credit: 12 Steps – · If you don’t qualify for a conventional mortgage, you may want to consider getting a mortgage through the fha. fha loans can have down payments as low as 3.5% and are often available for individuals with credit scores between 500-620.