Recent graduates purchase their first condominium

Ann and Sophie, both twenty-five, just graduated from university. Both have found a job in their respective fields with annual salaries of around $42,000. Their job probation period is over and now they want to purchase a condo. They are mainly motivated by the fact that they want to stop paying $1200 a month rent on lodgings that don’t belong to them.

Sophie’s father advises the young couple to meet with us to get a mortgage pre-approval and learn all the details needed for them to draw up their budget and guarantee their secured interest rate.

Taking into consideration the $ 10,000 gift from both their parents, their monthly $250 car loan payment and each of their $100 monthly student loan payments, we were able to obtain a $ 300,000 purchase pre-authorization.

In spite of this pre-authorization amount, Ann and Sophie decided on a $290,000 price limit so as not to feel squeezed by their condo obligations and take advantage of their youth to travel and go out instead.

Ann and Sophie are now the happy owners of an almost new, modern condo in a trendy neighbourhood. They are proud to have worked with a Mortgage Planners mortgage broker who negotiated their mortgage with the best rates and excellent conditions. And they did this at no cost to them while enjoying the peace of mind that comes from knowing that an expert guided them in making their project a reality.

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