An affordable mortgage

Buying a property means choosing a certain lifestyle. Accordingly, you must thoroughly evaluate your ability to pay. Your personal financial advisor can help you draw up your plan of attack. Together, you will calculate the maximum amount you can allocate to purchasing a home. When you meet with your advisor, have ready the figures for your gross income as well as your various financial commitments. Generally, the amount you budget for housing costs (capital and interest, taxes and heating) should not exceed 30% to 32% of your gross income.

The first meeting will involve analyzing and, if necessary, cleaning up your credit file. Credit cards are opportunities to run up debt, and the caisse will take this into account. Although it can take some time, the caisse can help you establish realistic scenarios that will prevent future problems.

An owner who is selling his/her home in order to purchase another one may want to transfer his/her mortgage to the purchaser. This is called a mortgage transfer. A mortgage with a very low rate can be a good selling point, not to mention that the seller can also avoid the penalty if the mortgage has not yet reached its term.