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How the Mortgage works in Canada

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Question - Cinthia recently got as a Software professional job in one of the IT company in Toronto, with a annual package of $ 89,000 and her husband, Roberto, is into trucking business, having his own truck and makes around $ 8000 per month. She wants to go for Mortgage loan to buy a house in Brampton and the purchase price is $950,000. Cinthia has visited your bank and you are working in RBC as a Financial Advisor. As an advisor, how do you guide them in understanding how the Mortgage works in Canada including an example with calculation.

Reference no: EM133047684

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