Українська Манітоба
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Yes, you are right, the bank calculating your mortgage based on your gross income.
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I am not allowed to post links here. If you send me a private message I can send you are link to Google Reviews where you will be surprised to see how many people already used my services and forgot about rent.
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Mortgage rates started to go down, today, I am offering 4.9%. You are signing contract only for 5 years, so, later your rate will be even lower, your rent will increase from the year to year. You don’t have choice, if you want to survive in Canada at some point you will take mortgage. About the prices! Of course I will be happy to help them to buy something for 400,000 but they can’t afford it now. In 5 years they will sell their home and will buy something bigger.
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Why not? But if they will decide to go with another broker or bank I will wish them good luck!
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I am ready to sign a personal contract with you and cover the difference in cash if the mortgage rates will be higher in 5 years from now.