Before you start looking for a home, you need to figure out what you can afford. This means closely examining your finances including income, expenses, investments, savings and debts. This video from the continuing series on Canadian Mortgages walks you through the steps so you can find out your GDS & TDS.
Click here to download the Monthly Expenses Form mentioned in the video.
There is also an Income Qualifier Calculator available for your mobile. Simply visit www.scottdawson.ca/mobile on your iPhone or Blackberry.