Quote:
Originally Posted by GLOW
am i interpreting the graphic correctly?
for vancouver, a yearly income of 152k is required to borrow 810k for a home with zero down payment?
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They make a rule for the housing costs to not be greater than 32% of the household income. It's based on 5% downpayment with fixed interest rate of 2.74%, 5-year amortization. Accounts for property taxes, interest on the loan, and heating. Also includes the mandatory mortgage default insurance.