The mortgage stress test lowered today from 4.94% to 4.79%.

After running a quick calculation using:

• Income of 100k
• 10% down payment
• Applicable Vancouver Property taxes
• Condo fees of $300
• Heat $50

Maximum purchase price has increased from $537,000 to $552,000.

If this same client used a down-payment of 20% (138K), the maximum amount we could qualify them for using amortization 30 years is a property worth approximately $690,000.

If you would like to more information regarding a potential mortgage situation please give me a call at 778-215-4121.

Sincerely,

Adam Sale