Mortgage stress test explained: How much can you afford when buying a home?

In this episode, the mortgage stress test is explained and see how much you can afford when buying a home. 💬 Remember to get your FREE guide from the experts before buying your next home: stories.brookfi...
About this video:
How does the mortgage stress test affect your ability to buy a home? Just how much can you afford? In this episode, we build upon our previous video on the new mortgage rules and mortgage stress test. We explore how the stress test is applied for those who put more or less than a 20 percent down payment. We review how the stress test impacts variable and fixed-rate mortgages, what income you need to pass the stress test and if you can avoid it. Finally, we discuss how the recent interest rate hikes have affected the test.
#mortgage #mortgagestresstest #mortgagerates
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