Hard to believe I sold a town house for $270k 7 years ago in airdrie with a 2 car attached garage driveway and closed back yard, finished basement end unit. now it is probably 700k
So anyone making below $100,000 is lucky to get into a crappy condo, anyone around $100,000 is in townhome or duplex territory (I have seen some duplexes outside of what a $100,000 salary can buy so some instances you won’t even get a duplex) or a small house in not great neighborhoods, because we all know it’s likely those ones posted in the nicer neughbourhoods are going to go for above asking. Calgary is only for the wealthy nowadays. Pretty dismal and depressing really. All hope is lost unless there is a crash.
@@user-bx6sf8ye9l I don’t see a crash. Vancouver corrected around 200-300k in 1.5 m houses down to 1.2m-1.3 m. Calgary is still on sale vs more competitive markets. Good luck!
That is the Max the bank will lend you. if you max that out groceries and a car to get to work will be brutal to pay for on top. Me and my wife only bought half what the max the bank would lend and it is tough to save up for a holiday. We do eat good and have reasonable cars but if we maxed it we would not sleep at night.
Is your mortgage calculator available for use? Or is that just for your agents? I just paid off my vehicle and have no debt now and about 50k saved. I had 120k in income last year and am tracking for a similar amount this year. I'd like to play around with that calculator a bit. I thought I wouldn't get approved for anything over 450k, maybe I was underestimating a fair bit.
Thanks for the comment. It is an internal doc we use however if you want us to help you figure out the shopping budget then let me know here and I’ll get you on the right path www.chamberlaingroup.ca/contact/ ~Jared
This is where how much equity you have is key. I agree and personally have a threshold of how much debt I want to have. If we don’t have the equity to live in a certain area and keep the debt in check we won’t live there. Unfortunately many don’t live that way.
Where are you getting these numbers? I have been told currently it’s max of 3.5-4x total HHI, given no other debts You showed $450k mortgage on a $100k income. That’s is 4.5x?
Thanks for commenting. As per the explanation and going off of GDS ratios that’s where this is coming from. If you need a new mortgage broker let us know and we can help you find a great home with the right broker. www.chamberlaingroup.ca/contact/
Hard to believe I sold a town house for $270k 7 years ago in airdrie with a 2 car attached garage driveway and closed back yard, finished basement end unit. now it is probably 700k
Being born and raised here I shake my head many times when looking at what prices have done. ~JC
Auburn Bay ✍️! Such a great friendly community.
🙌 it is!
So anyone making below $100,000 is lucky to get into a crappy condo, anyone around $100,000 is in townhome or duplex territory (I have seen some duplexes outside of what a $100,000 salary can buy so some instances you won’t even get a duplex) or a small house in not great neighborhoods, because we all know it’s likely those ones posted in the nicer neughbourhoods are going to go for above asking. Calgary is only for the wealthy nowadays. Pretty dismal and depressing really. All hope is lost unless there is a crash.
You have to remember it depends on the downpayment too. That can change your qualifications.
@@user-bx6sf8ye9l I don’t see a crash. Vancouver corrected around 200-300k in 1.5 m houses down to 1.2m-1.3 m. Calgary is still on sale vs more competitive markets. Good luck!
That is the Max the bank will lend you. if you max that out groceries and a car to get to work will be brutal to pay for on top. Me and my wife only bought half what the max the bank would lend and it is tough to save up for a holiday. We do eat good and have reasonable cars but if we maxed it we would not sleep at night.
Is your mortgage calculator available for use? Or is that just for your agents? I just paid off my vehicle and have no debt now and about 50k saved. I had 120k in income last year and am tracking for a similar amount this year. I'd like to play around with that calculator a bit. I thought I wouldn't get approved for anything over 450k, maybe I was underestimating a fair bit.
Thanks for the comment. It is an internal doc we use however if you want us to help you figure out the shopping budget then let me know here and I’ll get you on the right path www.chamberlaingroup.ca/contact/ ~Jared
Sage hail is best
Great area indeed!!!
SAGE HILL IS THE BEST…👏🔥💕
really far out but a nice area if you can find work close by.
39 GDS if you want to be broke AF. 25 GDS is appropriate. We make $250k and a $640k mortgage is absolutely more than enough.
This is where how much equity you have is key. I agree and personally have a threshold of how much debt I want to have. If we don’t have the equity to live in a certain area and keep the debt in check we won’t live there. Unfortunately many don’t live that way.
Absolutely agree with a GDS of 25% vs 39%! Thanks!
Agreed even less wait till the Kids want VR's and power scooters on top of your sky high mortgage.
Is this video sped up? It sounds kinda weird
🎙️💨… I don’t think it is... 🤣 🤔
@@ChamberlainGroup ok no worries. Maybe I’m just losing it 😵💫
Where are you getting these numbers? I have been told currently it’s max of 3.5-4x total HHI, given no other debts
You showed $450k mortgage on a $100k income. That’s is 4.5x?
Thanks for commenting. As per the explanation and going off of GDS ratios that’s where this is coming from. If you need a new mortgage broker let us know and we can help you find a great home with the right broker. www.chamberlaingroup.ca/contact/
@@ChamberlainGroup I have talked to a broker and big 5 bank, a HHI of $250k, only approved for max of $900k
@@Yelllowchild7 there is B lenders that will go further.
@@robertguay3773 I am not sure with the new mortgage cap of 4.5X income allows B lenders to give motr
too many variables...I have min 20%down and 100k income and i can go into the 600k range