• Mortgages are not only about low rates. It’s also about making informed decisions and having a financial plan. This section is dedicated to first time home buyers to help them educate themselves and prepare for one of the biggest investments of their lives; buying a home. Below is a useful table to help first time homebuyers plan a budget that will help make those decisions. Please click on the following link to view/download a handy PDF file: Homebuying Budget. More useful information will be regularly added to this section so please check back frequently! Thanks!

    Robert Floris is an independent mortgage broker at Mortgage Architects in Hamilton Ontario.

    Current Household Budget Total Net Monthly Income
    Details Average Monthly Payment
    Current Housing Expenses $
    Rent $
    Electricity (if paid separately) $
    Heating Costs (if paid separately) $
    Water (if paid separately) $
    Maintenance/Repair $
    Parking Fees (if paid separately) $
    Current Non-Housing Expenses $
    Cable TV/Satellite/Video Rental $
    Car Fuel $
    Car Insurance & License $
    Car Repairs & Service $
    Charitable Donations $
    Child Care $
    Child Support/Alimony $
    Clothes $
    Contents Insurance $
    Dental Expenses $
    Entertainment, Recreation, Movies $
    Furnishings $
    Groceries $
    Internet $
    Life Insurance $
    Lunches/Eating Out $
    Medical Expenses, Prescriptions, Eyewear $
    Newspapers, Magazines, Books $
    Personal Items $
    Public Transportation $
    Savings (bank account, RRSPs) $
    Telephone/Cell Phone $
    Other Expenses $
    Total Monthly Expenses $
    Note: You may have other costs not shown on this worksheet.
    Net Monthly Income Less Expenses $
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