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  Canada Immigration Forum > About Canada > Real Estate & Mortgages > CURRENT MORTGAGE RULES
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CURRENT MORTGAGE RULES




Hello CD friends,
Any one, expert in the field of mortgage, what are the current income requirements for new mortgages?
In the event of an individual paying 60% upfront, of the cost of the property, what shall be the minimum income required to borrow for the next 40 % of balance cost of the property?

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mor

Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.

 
peacock1

Senior Desi
Member since: Jul 04
Posts: 1039
Location: Woodbridge

Post ID: 237551 22-02-19 13:11:42
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nari
Desi
Member since: Dec 07




Posts: 66
Location:


As a general rule you should never borrow more than 3X of your income. I personally like to say 3X of your net income.

If you borrow more than that you are highly leveraged.


 
Post ID: 237696 03-04-19 10:24:40
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