How much income do I need to buy a house in Canada? Try our mortgage payment calculator.

In this video, I show you how to get the answer to your question: "How much income do I need to buy a house?" In Canada, our mortgage payments are based on a mortgage that compound semi-annually. In the US, mortgages compound monthly, therefore US mortgage payment calculators won't provide you with an accurate mortgage payment. Qualifying for a mortgage is different here in Canada than it is in the US. I do this calculation with clients ever time I meet a first time home buyer. One of their first questions is "how much income do i need to buy a house?" and "how much mortgage can I qualify for" We first determine your income, then based on that we can figure out how much mortgage you can qualify for. Visit our website to try the calculator for yourself: https://mymortgagebroker.com/income-you-need-for-mortgage/ Like and share this video to receive notification when we make more.