Mortgage Dunwell
1254 Plains road east L7S 1W6 Burlington, ON, Canada

Here are some questions you should consider if you are planning on buying or selling real estate in 2021. (1) What impact will the new administration south of the border have on the housing market in Canada. (2) With record low interest rates and accumulation of savings due to the pandemic, how will this impact the cost of housing once the restrictions are eased. ... (3) Immigrants (who buy homes) cannot travel right now due to pandemic. They will afterwards and they will enter the same market with low interest rates and a bunch of buyers with extra savings. Will there be enough houses to offset what will be a strong reason for soaring prices for homes? (4) With all of this to consider, will the market be Hot or Red Hot? Don’t forget you don’t hAve to own a home to be a real estate investor. You can be a deal finder or even a Home Inspector, but of course owning property is also good idea.

For revolving debts such as unsecured lines of Credit, Credit Cards, and personal loans only 3% of the balance owed will be factored into your TOTAL DEBT SERVICE TDS calculation which will determine whether you qualify for a mortgage or not. The curent TDS ratio is 44%. If you debt to income exceeds this number you will need either a larger income or debt reduction in order to bring your TDS to below 44%. The other option would be to seek a mortgage on a lower valued property.