Here’s an example of how the
BC Home Owner Mortgage and Equity Partnership program might play out…


Firstly, you MUST have 50% (1/2) of the down payment already saved (RRSP, investments, cash etc etc).
Secondly, you must be pre-approved first (CMHC approved), before an application can even be made to the BC Home Owner Mortgage and Equity Partnership.

Assuming that’s the case, and that your credits good, let’s look at an example –

Example A –

Household Income: $90.000
Monthly Car Loan: $450
Credit Card balance: $3,000
Monthly Strata: $350
Taxes: $1,000

Based on the example above, you may qualify for a purchase of around $425,000

5% Down payment: $21,250

You would need to have 1/2 of that ($10,625) and 1/2 would come from the BC Home Owner Mortgage and Equity Partnership

Feel comfortable calling me to discuss what amount you may qualify for.

Mark Fidgett is a Vancouver mortgage broker and the driver behind

www.AdvancedEquity.ca

Your Vancouver Mortgage Broker For Life 604-273-2002

www.notapennydown.com

P.S. Who’s the next person you know who wants to save thousands off their mortgage? Be sure to give me a call so we can help them! 604-273-2002