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Home Ownership Success Stories
Everybody loves a good
story
.
Here’s a story one of my clients loves to tell over and over…
…but still, no one believes her.
“I had almost $200,000 in equity from my townhouse to use for a down payment, but…”
“…I wanted a real HOUSE.”
“The problem was…”
“I only make $52,000 per year.”
“My bank told me I could only qualify for a place under $460,000.”
“$460,000 would only get me this little house in a bad part of New Westminster.”
“$460,000 would only get me this little house in a bad part of New Westminster.”
“How then did I buy this $842,000 house in the Capitol Hill neighbourhood in Burnaby?”
“How then did I buy this $842,000 house in the Capitol Hill neighbourhood in Burnaby?”
“How did I qualify for a $673,600 mortgage with only $52,000 of income?”
$673,600$52,00
0?
“…and still pay less than $1,100 per month for the mortgage and property taxes?”
“It was just this simple…”
20% Down Payment
35 Year Amortization
2.89% Interest Rate$1,600 per month of rental suite
income$1,280 deducted from mortgage payments
Monthly Mortgage Payment
$2,545Monthly Property
TaxesLess Actual Rental IncomeNet Cost per Month
$ 329($1,83
0)$1,044
My dream ofHOUSE
ownership became...
reality.
Shea Stoney, B.Comm
The Mortgage Helper
Phone: (604) 461-4346
Address: 2189 Austin Avenue, Coquitlam, BC
Email:[email protected]: www.sheastoney.ca
the Mortgage Helper
