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Heather Berenbaum


Sales Representative




Cell: (613) 608-8986    Email Me

How Much Do I Qualify For? 

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When buying a home, it is helpful to determine the type of home you'll like and how much you can afford before beginning your search. Most lenders allocate approximately 28% of your GROSS MONTHLY INCOME to housing expense. Housing expense includes principal, interest, taxes and insurance (PITI). To get an idea of how much you can afford to pay each month for a home, multiply your gross monthly income by 28%.

When coupled with current outstanding loans, the total for your debt service should not exceed 36% of your gross monthly income. Some lenders may have slightly more liberal requirements or loan interest rates which may increase your purchasing power.

Mortgage interest, property taxes, loan fees or "points" are currently tax deductible (up to allowable limits). Points are generally deductible in the year paid. A point equals 1% of the mortgage amount. If you are in the 28% tax bracket, this is equivalent to receiving a 28% discount on your mortgage interest and property taxes. During the first years of the mortgage your tax savings are especially high because most of your monthly payment goes toward loan interest.


Heather Berenbaum

About Heather Berenbaum

Sales Representative

Thank you for visiting my website! I have taken the time to provide you with as many resources and tools as possible in one spot so to try and help make the home buying experience as easy as possible.

Buyers: Check out my new Microsoft Bing Mapping tool to look around town and see the community you might like to live in. Then use the ‘points of interest’ buttons to search for nearby schools, parks or even the closest coffee shop!

Sellers: List with me and watch what I can do! Custom web addresses directly to your property on both my personal website and my brokerages site will help market your property directly to buyers and increase the speed at which your property is found.

Sign up with my website to receive free information or to ask any questions you may have. My no pressure approach means everything on this site is free for you to use and you only have to worry about contacting me when you are ready or need some help