1. Home Ownership Success Stories

3. Everybody loves a good story.

5. Here’s a story one of my clients loves to tell over and over…

6. …but still, no one believes her.

7. “I had almost $200,000 in equity from my townhouse to use for a down payment, but…”

8. “ …I wanted a real HOUSE. ”

9. “The problem was…”

10. “I only make $52,000 per year.”

11. “My bank told me I could only qualify for a place under $460,000.”

12. “$460,000 would only get me this little house in a bad part of New Westminster.”

13. “$460,000 would only get me this little house in a bad part of New Westminster.”

14. “How then did I buy this $842,000 house in the Capitol Hill neighbourhood in Burnaby?”

15. “How then did I buy this $842,000 house in the Capitol Hill neighbourhood in Burnaby?”

16. “How did I qualify for a $673,600 mortgage with only $52,000 of income?” $673,600 $52,000 ?

17. “…and still pay less than $1,100 per month for the mortgage and property taxes?”

18. “It was just this simple…”

19. 20% Down Payment 35 Year Amortization 2.89% Interest Rate $1,600 per month of rental suite income $1,280 deducted from mortgage payments

20. Monthly Mortgage Payment $2,545 Monthly Property Taxes Less Actual Rental Income Net Cost per Month $ 329 ($1,830) $1,044

21. My dream of HOUSE ownership became... reality.

22. Shea Stoney, B.Comm The Mortgage Helper Phone: (604) 461-4346 Address: 2189 Austin Avenue, Coquitlam, BC Email:sstoney@dominionlending.ca Website:www.sheastoney.ca the Mortgage Helper