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:sstoney@dominionlending.caWebsite: www.sheastoney.ca

the Mortgage Helper