Get a Mortgage with Simona Heather


Real Estate Salesperson (RECO)	416-892-9524	Mortgage Agent - Licence #: M08007679
Buy or Sell -> Low Commission!	Every Problem has a Solution!	Lowest % Rates! - $0 Fees GUARANTEED I work for YOU, but the BANK pays me!!

Introduction \| Mortgage Industry \| Mortgage Calculators \| Glossary \| Apply Now
Simona Heather will assist you in finding the right lender to provide you with financing at the best rates possible that match your needs and situation. Determining What Size Mortgage You Can Carry You may realize that you qualify for a larger mortgage than you initially considered. At this point, you're faced with two scenarios: what you can comfortably afford and what amount you can absolutely financially stretch yourself to in order to buy your dream house. Banks will be more than happy to give you a larger mortgage if you can afford the payments, but you should decide what monthly payment amounts comfortably fit within your budget. You don't want to be saddled with a large mortgage and not be able to afford those cherished trips to Aruba. Financial institutions have two typical approaches to determine how big a mortgage they're willing to give you. One method involves calculating your Gross Debt Service Ratio. This is calculated as the percentage of gross annual or gross monthly income needed to cover all housing-related costs (including principal and interest payments on your mortgage, property taxes, hydro, water, and heating and half the monthly condo fees, if applicable). It should not be more than approximately 32 percent of your gross annual or gross monthly income. The other method is to calculate your Total Debt Service Ratio. This is calculated as the percentage of gross annual or monthly income required to cover all your housing-related costs plus any other debts (for example, student loan, car, and credit card payments). This should be no more than 40 percent of your gross annual or monthly income. I am a member of the Verico Mortgage Brokers Network, and the Preferred Lenders I work with include: TD Canada Trust Scotia Bank Firstline Mortgages CitiFinancial National Bank Laurentian Bank ING Direct HSBC Bank Canada Abode Mortgage Corporation Bridgewater Bank Concentra Financial First National Financial LLP GE Money Canada Macquarie Financial Ltd Maple Trust MCAP Merix Financial N-Brook Optimum Mortgage Resmor Trust Seniors Money Street Capital VERICO Mortgage

Simona Heather's Personal Office Phone: 416-892-9524 Fax: 905-494-1786	Email Contacts: Simona Heather - Simona@SimonaHeather.com Cary Heather - Cary@SimonaHeather.com
Simona Heather's Mortgage Office Verico - The Mortgage Practice 2425 Matheson Blvd. E., 8th Floor Mississauga, ON L4W 5K4 Phone: 905-458-4222 Toll Free: 1-888-458-4222 Toll Free Fax: 1-866-741-8496	Simona Heather's Real Estate Office Absolute Realty 2410 Wasaga Drive Oakville, ON L6H 0B9 Phone: 905-582-3588