Legal Suites
What is included in a Broadview Legal Suite Ready home?
Broadview Homes is offering a legal basement suite rough-in product on select quick possession homes in Ambleton, Vermilion Hill, and Hotchkiss.
This allows you to easily add a full suite development with us or in the future on your own. Below are the items we include in each home.
Separate Entrance
Second
Furance
Separate
HRV System
Sink
Rough-in
Laundry
Rough-in
Tankless
Water Heater
Legal Suite Ready
Available Homes
How Do Legal Suites
Affect Mortgage Qualification?
Having a legal suite in your home that generates rental income can significantly lower the annual household income required to qualify for a mortgage. Here’s how:
Increased Qualifying Income:
Lenders consider a portion of the expected rental income as part of your overall income when assessing your mortgage application. This effectively boosts your earning power.
Reduced Debt-to-Income Ratio:
Rental income helps offset your mortgage payments, lowering your debt-to-income ratio (DTI). A lower DTI makes you a more attractive borrower to lenders.
Increased Affordability:
With a portion of the mortgage covered by rental income, you need to contribute less from your own income, making the home more affordable.
For more information on how adding a legal suite to your new home can affect your mortgage qualification, contact us or connect to a trusted ATB Mortgage Specialist:
Amanda Hoerle – (403) 803-1474
Jessica Anderson – (403) 682-9977
A Quick Mortage Scenario:
 |
 |
|
| Full Legal Suite | No | Yes |
| Purchase Price* | $600,000 | $655,000 |
| Monthly Rental Income* | $0 | $1,400 |
| Annual Household Income to Qualify* | $140,000 | $125,000 |
* Lender rules on rental income vary significantly. Consult a mortgage professional for personalized guidance. This example is based on current market conditions and may change. Prices, laws, and lender policies can differ by location.
Increase Your
Buying Power!
Contact us today to learn how a Legal Suite home can help you qualify.