Mortgage Qualification Calculator
This mortgage qualification calculator helps you see how much money you can afford to spend on your home. We're using the same formulas and criterion that would be applied to you if you if you were applying for a mortgage through a broker or a bank.
Calculate Based on your Income
Please enter these fields and click Calculate to find out how much you can qualify for.
[1]
Do you have any money saved? Greater downpayments help decrease the CMHC insurance assessment of your mortgage.
[2]
The average monthly cost of property tax is $250.00.
[3]
The average monthly cost of heating a Canadian home is $85.00.
[4]
The minimum payments you must make on existing debt. These are payments on things like car loans and leases, credit cards and other types of loans.
[5]
Amortization is the length of time it takes to pay off a mortgage. Most Canadians choose to pay off their mortgages in 25 years.