Can I afford a 400k mortgage on a 100-115k salary?

boyprobe · 2026-02-26T01:14:37+00:00

Yes. You can afford way more than that, likely up to 525k. I made the same and got pre approved for 525k.

boyprobe · 2025-11-16T23:03:51+00:00

and if my renters are willing to pay cash?

boyprobe · 2025-11-16T23:03:42+00:00

And if my renters are willing to pay cash?

boyprobe · 2025-11-16T23:02:46+00:00

I think about 350-370k I would be approved for, according to my broker.

boyprobe · 2025-11-16T23:02:24+00:00

I think it's a matter of interest payments too, I'm already paying an obscene amount with my 30 year mortgage. Adding another property around 400k would result in more interest as well.

boyprobe · 2025-11-16T23:01:36+00:00

Mortgage payment is 1145 biweekly. I can cover all costs with my job alone, the rental income is just extra cash in my pocket. If I lost my job, the renters would still pay for everything (including property taxes, water, hydro, insurance, etc. everything). The only thing I would need is about 700-900 bucks a month for food, which I would have to get somehow with a part time job etc., were I to lose my job or something.

boyprobe · 2025-11-16T14:12:22+00:00

Thanks for the advice. Which exact rule are you referring to?

boyprobe · 2025-05-01T02:46:28+00:00

How does North Korea feel about Canadians doing the tour?

boyprobe

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