We have always been told that real estate is a sure-fire way to build wealth. In fact, owning a piece of real estate they can call their own is most people’s dream. The reality, however, is that this is not the best financial option for all. Many individuals simply don’t have the cash flow to afford the purchase and the maintenance of a home.

Your mortgage is likely going to be the most significant debt you will ever incur. The decisions you make regarding your mortgage will therefore, have a huge impact on your financial situation.


By the end of the course, you will be able to:

  • Explain the two rules that mortgage lenders rely on to determine how the sum that you can afford to borrow
  • Compare the level of your monthly debt and housing expense payments to your gross monthly household income
  • Describe how your current age and retirement goals should affect your considerations for purchasing a home
  • Use a mortgage affordability calculator to estimate the maximum mortgage that you can afford
  • Outline closing and other costs that cannot be added to a mortgage which individuals must pay upon purchasing a home
  • Describe the advantages and disadvantages of renting vs. buying a home
  • List key factors that should be considered in determining whether renting or buying is a better option for you
  • Describe how repair and maintenance costs, as well as long term house prices may impact your decision to buy versus rent
  • Explain why it is better to avoid purchasing a home if you have consumer debt
  • Distinguish between conventional and high ratio mortgages and determine which you would qualify for
  • Outline the financial implications of both types of mortgages

    Any individual exploring whether rental or home ownership is the right choice for them, their loved ones or clients.