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First Time Home Buyers Canada: Determining Affordability – Step 1# Assets & Liabilities

March 5, 2013

MonsterMortgage.ca Canada Mortgage Expert Savio Vaz helps first time home buyers determine how much ‘house’ they can afford.

This is the first mortgage blog in a mini-series of tips & tricks for first time home buyers in Canada looking to purchase their first home or condo.

Savio takes a look at the first determining factor for housing affordability – your Assets and your Liabilities.

Even with a healthy salary, liabilities can bring down your ability to afford a new home; however, a first time home buyer with a more modest salary and few liabilities may be able to afford more than they initially thought.

If you enjoyed this video or have any questions about the Canada mortgage market or obtaining a mortgage in Canada as a first time home buyer, read and watch our other video blogs!