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- Ella is 31 , has been working full time for six years and wants to buy a condo - Her cash flow is presented
- Ella is 31 , has been working full time for six years and wants to buy a condo - Her cash flow is presented below - The total projected heat, property tax, and 509 strata fees are $400 a month - Assume max GDSR is 30% and TDSR is 40% - The qualifying mortgage rate is 4% compounded semi-annually with 25 years amortization GDSR=0.3=( property tax + heat +50% strata fees + mtg payment) / gross monthly income TDSR =0.4= (property tax + heat +50% strata fees + debt payments + mtg payment) / gross monthly income Answer in the spaces below. Round all answers to the nearest whole number. Do NOT input any S, commas, or decimals. The monthly mortgage payment according to GDSR is The monthly mortgage payment according to TDSR is The maximum mortgage amount she can qualify for is The maximum condo purchase price she can afford based on 20% down payment is
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