Without question, your most important consideration when buying real estate will be how much you can really afford. Generally, this will depend on the following six factors: Your household income, Your outstanding debts, Your credit rating and history, Current interest rates.,The type of mortgage you select, The cash you have available for the down payment and closing costs.

Select a financial Institution or Mortgage Broker you feel comfortable working with. Have ready your last two Notices of Assessments, a recent pay stub, and any other investment information you have available and list of assets and liabilities.