Affordability Calculator

See what you can afford based on your income, home sale proceeds, and savings.

Purchase Details

First Time Buyer

Toggle on to use the first time buyer 5% down minimum

Purchase Price

The home price you want to check qualifying numbers for.

Mortgage Terms

Interest Rate (%)

Amortization (years)

Payment Frequency

Monthly cost assumptions: property tax $4,000/yr, heating $150/mo, condo fees $0/mo.

Your Results

Min. Down Payment (20%)

$150,000

Min. Annual Income

$126,327

Mortgage Amount

$600,000

Monthly Payment

$3,685

Amortization Overview

Total Interest Paid$505,357

Total Amount Paid$1,105,357

After 5 Years

Remaining Balance$535,629

Total Equity$214,371

Principal Paid$64,371

Interest Paid$156,701

Payment Breakdown

Mortgage Payment (monthly)$3,685

Property Tax (monthly)$333

Heating (monthly)$150

This calculator provides estimates based on Canadian mortgage guidelines (GDS 35%, TDS 40%). Actual approval amounts may vary based on your credit score, lender policies, and other factors. This is not financial advice.

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