Bianca Toader

The bottom line, don’t get discouraged and don’t give up!

🚀JUST LISTED 🌟 Welcome to your dream home in beautiful Barrie! 🏡✨ Classic elegance meets modern comfort with this charming red brick, detached residence 🌹

Listed @ $799,000
4 bed 4 bath w/ basement suite

🍽️💫 With 4 cozy bedrooms, including a basement suite, and 4 bathrooms, there’s plenty of room for everyone. 🛏️🛁

Located in a sought-after neighbourhood close to schools, parks, and amenities, this property ticks all the boxes. 🏫🌳🛍️

Listed @ $799,000

Ready to make this house your forever home in Barrie? Don’t miss out! Slide into our DMs or tap the link in bio to learn more. 💌🔗

While every mortgage lender will have different requirements, you can expect your mortgage lender to have a minimum income level requirement of $170,000-200,000 💵

Because of these standards, many $1,000,000 mortgages are cosigned by two or more individuals. By combining savings, ensuring solid credit for all parties, and maintaining a strong career, a million-dollar mortgage is possible.

👉🏼Debt Service Ratio Requirements For A Million Dollar Home 👈🏼
Banks also consider the debt-to-income ratio, meaning they check your earnings in relation to your current debts to make sure that you have enough income to pay the mortgage bill and your other debts.

GDS Ratio – To qualify for a million dollar mortgage, your total monthly housing costs must not make up more than 39% of your monthly gross income.
TDS Ratio – To qualify for a million dollar mortgage, your total monthly housing costs and other debts must not make up more than 44% of your monthly gross income.
Assuming you take out a mortgage for a dollar home, here’s the maximum you can spend in each category if you have the minimum income of $170,000.

GSD – $66,300 a year or $5,525 a month.
TDS – $74,800 a year or $6,233 a month

Minimum Down Payment By House Value
Less than $500,000 – 5%
$500,000 – less than $1,000,000 – Properties worth more than $500,000 require a 5% down payment on the first $500,000; and at least 10% of the remainder.
$1,000,000 or more – 20%

📍 Unique Opportunity Alert: Builders, Developers, Montessori Schools, Daycares, and Places of Worship! 🚧🏫

🌟 Discover this Prime Corner Lot: 75x115 ft in a coveted residential area.

🏗️ Ideal for Townhomes or Stacked Towns - Previously Zoned Residential.

✨ Current Institutional Zoning - Perfect for Educational or Religious Institutions.

🕊️ Formerly a Church: 947 sqft of Timeless Elegance with an Open Worship Area.

☀️ Bright 244 sqft Mezzanine with Ample Natural Light.

👇 Spacious 925 sqft Finished Basement: Includes Kitchen & Two 2-Pc Washrooms.

🚗 Conveniently Located 3 Minutes from Highway 12, with Parking for 15 Cars.

🔨 Recent Upgrades: Roof, A/C, Alarm System, Fiberoptic Connectivity.

💼 Listed at $624,900 - A Rare Find for Visionary Development!

DM for more info!