Adam Tupper Mortgage Agent

Term: Gross Monthly Income

The total income that an individual earns per month prior to any expenses or deductions are taken into consideration.



Thinking about applying for a mortgage? One of the factors lenders consider is your gross monthly income.

It's important to be honest and accurate when reporting your income, as it can impact the amount of loan you're eligible for. It's also a good idea to review your budget and make sure you have enough income to cover your monthly mortgage payment.

Term: Equity - the difference between the property value and the financing secured against the home. Whatever portion is not secured by the lending institution constitutes itself as the “owner’s equity”.



As a “brokerage with a heart”, we know firsthand the value of home equity. It's a key factor in homeownership and can open up a world of financial opportunities. Whether you're looking to renovate your home, pay off debt, or secure a comfortable retirement, home equity can be a powerful tool.



If you're interested in learning more about how to build equity in your home, give us a call. We'd be happy to help you make the most of your homeownership journey.