Lintott Law
Advising On Real Estate And Foreclosure Law In Calgary
403-879-1613
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June 2018 Archives

Homebuyers 101: Qualifying For A Mortgage

Last week, we discussed some basics about shopping for a mortgage. After a lender pre-approves you for a mortgage, you must prove to the lender that you can repay the loan amount. The lender will calculate your total monthly housing costs and your total debt load. It will then calculate your gross debt service ratio and your total debt service ratio (more about these below). If these calculations show that you can pay your housing costs and your additional debts, you will probably get your mortgage.

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2913 Centre St N.W.
Calgary, AB T2E 2V9

Phone: 403-879-1613
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