In recent years there has been a surge of discussion surrounding the challenges that Generation Y, or the Millennials, will be experiencing as they enter the work force. The key items of discussion are (a) Education Costs (b) Cost of housing - both important topics because they both heavily impact an entire generations ability to be upwardly mobile.
If we consider first the cost of education there seems to be a disconnect between the actual average amounts that will be owing at the end of a four year degree. If you look at the numbers presented by the Canadian Federation of Students debt will hover anywhere from $27,000 to $37,000. If you look at other sources the number hovers around $25,000 to $27,000 - anyway you look at it, those are some big numbers. Using the middle of the road number of $26,000 our student are accumulating debt at a pace of approximately $6,500 per year, or $541.67 per month.
Did you know that it should never cost qualified applicants to have a Mortgage Broker looking out for their best interests? We are compensated by the lender & in most cases, we offer our services free of charge to our clients. We are dedicated full service mortgage/financial professionals focused on doing what`s best for our clients! We pride ourselves on providing clients with financial solutions that are specific to their needs and lifestyle.We know that different people need different things in a mortgage.
