When you go to the bank to look at getting a mortgage pre-approval, they will often quote you a ridiculous figure as the maximum amount you can borrow. This number is usually based on a simple metric, such as “debt payments should be no more than 40% of income”. Such simple metrics can lead to… [Read More]
Don’t Get Suckered by the Banks: How Much Can You *Really* Afford to Spend on a New Home?
