Use this calculator to estimate the maximum
value of a house you may qualify for based
on your household income and debts.
Gross monthy income
Monthly debt payments
Monthly property taxes
Monthly condo fees
Monthly heating costs
Mortgage interest rate
Down payment ($)
Down payment (%)
Maximum House Price
Monthly Mortgage Payment
If your down payment is less than 20%, mortgage insurance is calculated
based on CMHC (Canada Mortgage & Housing Corporation) rates for
mortgage loan insurance. The mortgage insurance can be paid as a
single lump sum or it can be added to your mortgage and included in
your monthly payments. The insurance is shown separately in this
calculator and has not been included in the Maximum House Price
and Mortgage Amount figures.
This calculator is for illustrative purposes only. The calculations are based
on the accuracy
and completeness of the data you have entered. This
calculator does not have the ability to pre-qualify you for any mortgage loan.
Qualification for a mortgage may require additional information such as a
credit rating which is not gathered in this calculator. You should not rely on
the results as an indication of your financial needs and we recommend that
you seek out your own legal, accounting, tax or professional advice.
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