<prompt> Human: Apologies in advance if this breaks etiquette first time personalfinace browser poster although I hear about this subbreddit quite often and did attempt to read the rules and FAQIm desperately hoping for additional input if anyone is willing to impart their advice. Personal calculations, banker and friendfamily feedback have already been sought but reddit has been a great source of filtered advice in the past so I thought Id give this a shot.We currently closed a real-estate deal and my wife and me to some extent are having second thoughts were risk averse people so its a natural reaction. However I dont want to discount the feeling and looking for yet another opinion on the situation as we have very little time left to exercise a get out of jail free card. Are we in over our heads? Does the debt-income ratio work out safely? is this even a metric I should care about? Am I nuts for trying to talk my wife off the ledge and jump in?Details:Were in our early 40s, married, grade school child, established professionals. Buying selling in the Toronto market.Gross income: 200,000House Price: 1,627,000 Sale of current home: 1,000,000Fees tax, legal, commission etc.: 100,000Outstanding loan current mortgage: 125,000Monthly property tx insurance on new home: 1,000monthNo other debt and to keep things simple, no current savings.Rates quoted for 5 year:1.95 variable, 2.59 fixedAgain, not sure what rules I might be breaking on this subreddit, but ANY quick insight feedback would be highly appreciated!  <response>: So you are getting 775k from your old home and are buying a 1.6m house. You will need a loan of around 900k. That is too much for your salary. Especially with no current savings. Abort mission. 