BUYER RESEARCH TOOL
How Much Home Can You Afford?
Estimate your maximum home purchase price using household income, down payment, monthly debts and current Canadian mortgage qualification rules.
Your Information
Income
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$
Down Payment & Debt
$
$
Expected Housing Costs
$
$
$
Mortgage Settings
%
Buyer Type
Estimated Maximum Purchase Price
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Based on the information entered and estimated qualification limits.
Down Payment
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Base Mortgage
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Estimated Insurance Premium
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Total Mortgage
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Stress-Test Rate
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Qualifying Monthly Payment
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GDS
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TDS
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Enter your information and calculate.
How This Estimate Is Calculated
The calculator applies Canadian mortgage stress-testing and debt-service concepts. Housing costs include the qualifying mortgage payment, property taxes, heating costs and 50% of condo fees. Other monthly debt payments are added for the total debt-service calculation. Where applicable, an estimated mortgage-loan-insurance premium is added to the mortgage.
Important:
This calculator is for general informational purposes only and does not
constitute mortgage, financial, legal or lending advice. Actual lender
qualification may differ because of credit history, income treatment,
property type, mortgage insurer requirements, other debts, lender policies,
interest-rate changes, taxes, insurance and other factors. Confirm borrowing
capacity with a licensed mortgage professional or financial institution.