Montreal, QC Mortgage of 333k with low saving?
long story short,
I have low saving near 17K in bank because I use most of it to help parent with their house and payment (old folks). Now I want to move on. I don't expect them to repay me back. Beside their my parent, I won't ask an penny back from them.
Now I saw I house I want to get. Before tax is 298 000$, after tax around 334K $.
Municipal and school fee maybe around 3000 per years$.
I have an car which is 4 years and 5 month (5 years financing) and close to finish to pay it.
I make about 64K Salary.
I have no debt. Credit rating around 780.
What is the change the bank will gave me an mortgage to cover the cost?
I was planning to pay the 5% down payment and get hit with the insurance fee.
In RBC online mortgage say it's 263K they can give me, but it just use my salary and my expense.