Note, our current five year profit rate is 8.99%, with qualification rate at 10.99%
Your Mortgage Amount must be no more than 80% of the property value that you wish to purchase. EQRAZ requires a minimum down payment of 20%.
Fill in the inputs to calculate the minimum amount of income you need in order to qualify for your desired property.
If you are looking to purchase a condo, enter an estimated condo fee or maintenance fee (leave it 0 if not a townhouse or condo).
Down payment must be at least 20% or more of the total property value.
Monthly Credit Card Balance (Put 0 if you pay it off by the end of the month)
Monthly Car Payments (lease or loan)
Monthly Payments of any other line of credit/ Personal loan/ St_udent Loan
Any other Mortgage loans
Monthly child support payments to ex-spouse (if any)
Monthly Alimony payments (if any)
Any other monthly lease payment you may have that does not include rent payments of current house
*This calculation is an estimate based on the accuracy and completeness of the information you have entered and is provided to you for illustrative and general information purposes only. This calculation does not mean you have been approved by EQRAZ. EQRAZ does not make any express or implied warranties or representation to any information or results in connection with the calculation. EQRAZ will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on the calculation. When you submit an application, the profit rate may have changed or may be different depending on EQRAZ’ review of your application in its sole, absolute, and unfettered discretion. Additional conditions may apply.**Please note that you will also incur other closing costs including, but not limited to, solicitors fees and land transfer taxes.