Just writing to get some advice on buying a home in Fort McMurray. I am currently looking at accepting a job offer in FMM, and am looking on moving from my current job in Ontario.
Essentially I am looking for a detached/semi-detached house with 2-3 bedrooms and a 1-2 bedroom basement that I can rent out. We are a family of three, and we are looking in the Timberlea due to close proximity to schools/daycares, etc. I will be the only parent working.
When mortgage affordability is calculated, do they consider the monthly housing assistance that is offered by the larger energy companies as income? Or is it something that they credit as being applied directly to the mortgage? Also do they look at income over the past few years or the current income?
Any other additional advice? Areas in Fort McMurray to consider?