How much mortgage do I qualify for?

For reference, this is how much $100K in annual income currently qualifies for (assuming little to no debts):

 $100K in annual income qualifies for:

$350K Mtg Amt (Hi-Ratio Insured) = $2,338/mth (based on 5 year rate of 6.04% & 25 year amortization)

 $425K Mtg Amt (Conventional) = $2,700/mth (based on 5 year rate of 6.49% & 30 year amortization)

 **So $200K in total annual income currently equals a $700K hi-ratio mortgage or an $850K conventional mortgage**

 Each $450/mth payments for debt will potentially drop the above qualifying mortgage amounts by roughly $75K - $100K

For a more detailed pre-approval, please email info@mylyne.com