• Nikole Krupka Rolof

What Income Qualifies At This Time?



The stress test rate right now is 5.25% so all is based upon that rate...


CONDOMINIUM - $250,000 Purchase Price

Assuming: 5% down payment, 25yr amortization, property taxes .9% of purchase price, condo fees $400/mo including heat, and credit score over 680.

Income Required with no debt payments: $58,000

Income Required with$500/mo. in debt payments: $65,000

Income Required with $1,000/mo. in debt payments: $78,000


HOUSE - $400,000 Purchase Price

Assuming: 5% down payment, 25yr amortization, property taxes .9% of purchase price, heat $100/mo and credit score over 680.

Income Required with no debt payment: $85,000

Income Required with $500/mo. in debt payments: $90,000

Income Required with $1000/mo. in debt payments: $105,000


Thanks for reading! Any questions I love to help.


Nikole Krupka Rolof

Edmonton Mortgage Broker

www.brokeryeg.ca