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How Do I Know How Much to Pay for my Down Payment?

The best way to determine how much youu2019ll be required to pay as a down payment is to speak to a mortgage broker. A mortgage broker can help you assess how much you can afford when looking for a home. For more details visit at https://mortgagebrokeralberta.ca/

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How Do I Know How Much to Pay for my Down Payment?

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  1. How Do I Know How Much to Pay for my Down Payment? Knowing how much you can afford to pay will also be a huge factor in determining the down payment. There are some general requirements as well, they are below: Source :www.mortgagebrokeralberta.ca

  2. If your home value is less than $500K, 5% of the purchase price is required. Source :www.mortgagebrokeralberta.ca

  3. If the home value is more than $500K but less than $999,999, then 5% of the purchase price up to $500K plus 10% on the remaining amount is required. Source :www.mortgagebrokeralberta.ca

  4. If the home value is more than $500K but less than $999,999, then 5% of the purchase price up to $500K plus 10% on the remaining amount is required. Source :www.mortgagebrokeralberta.ca

  5. If the property is valued at more than $1 Million, a minimum of 20% down payment will be required. Source :www.mortgagebrokeralberta.ca

  6. The best way to determine how much you’ll be required to pay as a down payment is to speak to a mortgage broker at Mortgage Design Group. A mortgage broker can help you assess how much you can afford when looking for a home. Source :www.mortgagebrokeralberta.ca

  7. Mortgage Design Group Inc. PH: (403) 942-4099 info@mortgagedesigngroup.ca Source :www.mortgagebrokeralberta.ca

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