What Financing A Property Under $500,000 Looks Like

We recently did a presentation to our BNI group about what kinds of criteria one would need in order to purchase a home in  Steveston, BC, under $500,000.  We presented a few different scenarios, including a high ratio mortgage, a regular mortgage and a mortgage plus improvements.  We wanted to share the results.

Here are some stats to start out with:

Listing - Steveston, BC

Purchase price $488,000

2 beds, 2 baths

In suite laundry

Pool + exercise room

Parking spot

Check out our presentation.  What do you think?