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 $52,000 ?

“…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 $2,545 Monthly Property Taxes Less Actual Rental Income Net Cost per Month $ 329 ($1,830) $1,044

My dream of HOUSE ownership became... reality.

Shea Stoney, B.Comm The Mortgage Helper Phone: (604) Address: 2189 Austin Avenue, Coquitlam, BC Website: the Mortgage Helper