28. Assume that your household is having a gross annual income of $150,000, and you have saved $250,000 from past investments to pay for down payment. Now, you are considering a house not far away from VIU with a listing price of $600,000. You will need to secure a mortgage to help purchase the house. You estimate the property tax is $400 per month, the heating cost is about $250 per month, and you are having other debts, $500 per month, including student and car loans. Will you be able to qualify for a mortgage and purchase the house? Select one mortgage product which you consider to be best one for your family. What will be the monthly mortgage payment? (Hint: Visit at least two major Canadian banks to explore mortgage options and choose one mortgage product to fulfill your dream. Apply GDS and TDS to check up your qualification. Don't forget to check up the new CMHC lending standards.) (M10 & market research) I 28. Assume that your household is having a gross annual income of $150,000, and you have saved $250,000 from past investments to pay for down payment. Now, you are considering a house not far away from VIU with a listing price of $600,000. You will need to secure a mortgage to help purchase the house. You estimate the property tax is $400 per month, the heating cost is about $250 per month, and you are having other debts, $500 per month, including student and car loans. Will you be able to qualify for a mortgage and purchase the house? Select one mortgage product which you consider to be best one for your family. What will be the monthly mortgage payment? (Hint: Visit at least two major Canadian banks to explore mortgage options and choose one mortgage product to fulfill your dream. Apply GDS and TDS to check up your qualification. Don't forget to check up the new CMHC lending standards.) (M10 & market research)