When searching for a new home, it's important to figure out how much you can afford. This calculator takes the most important factors like your income and expenses and determines the maximum purchase price that you could qualify for.
You could afford a home up to:
With a down payment of $
For a total mortgage amount of
that includes CMHC insurance up to $
Your estimated mortgage payment is:
*This is a rough estimate based on your income and the Government of Canada's 5-year "stress test" rate necessary for qualifying. This is assuming applicants have a good credit score. Your down payment can limit the above amount in various ways. For an accurate assessment, please complete a pre-approval. A mortgage specialist will look at your situation to discuss your options. It's completely free, and there is no commitment.
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