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How much house and mortgage can you afford?

Step 1 of 6

Where do you want to live?

{{calculator.geo.selectedMunicipality}}, {{calculator.geo.selectedProvince}}

Where you live affects what you can comfortably afford. Try alternative locations.




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Step 2 of 6

What kind of home are you looking to purchase?

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Mortgage loan payments are just one of the expenses you'll have as a homeowner. A comfortable mortgage loan leaves room for repairs, renovations, monthly expenses and your lifestyle.




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Step 3 of 6

What is your annual household income before taxes?

! Please enter an amount between $1.00 and {{income.maxIncome|currency:'$':'0'}}.
If your annual household income before taxes is greater than {{income.maxIncome|currency:'$':'0'}}, please contact us to discuss your home-buying options.

If you're buying a home with a spouse, partner, friend or family member, include their annual income before taxes as well.




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Step 4 of 6

How much do you have for a down payment?

! Please enter an amount less than {{downpayment.maxDownpayment | currency: '$':'0'}}. ! Please enter an amount greater than $1,000.

Your down payment affects the amount you can borrow to buy a home and the size of your payments. This will impact your monthly budget.

You must have at least 5% for a down payment if the home purchase price is less than $500,000.

If the home purchase price is between $500,000 and $999,999.99, you must have at least 5% for the first $500,000 and 10% for the remaining amount.

For home prices $1 million or over, the down payment must be 20%.

If you are a first-time home buyer, you can borrow up to $25,000 from your RSP towards your down payment.1

1. First time home buyers can withdraw up to $25,000, in a calendar year, from their RSPs for a home purchase (up to $50,000 for a couple). They then have 15 years to repay their RSP (other conditions apply). Find out more about the RSP Home Buyers' Plan.




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Step 5 of 6

What are your monthly debt payments?

! Please enter an amount less than 50% of your monthly income before taxes.

The amount you pay each month towards debt and the available credit you have access to will affect the amount of the mortgage loan that you might may qualify for. Be sure to include all outstanding balances on credit cards, car loans and other personal loans.

If your current monthly debt payments are greater than 50% of your monthly income before taxes, please contact us to discuss your options.

If you're buying a home with a spouse, partner, friend or family member, add that person's monthly debt payments to yours and enter the total amount.



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Step 6 of 6

What other monthly expenses do you have?

Estimate your monthly expenses such as groceries, transportation, child care, insurance, shopping, media and regular contributions to savings.

Please do not include rent or housing expenses.

If you're buying a home with a spouse, partner, friend or family member, include their monthly expenses as well.

If this amount is higher than your monthly income before taxes, please contact us to discuss your options.


What {{calculator.house.minPrice | currency:'$':0}} to {{calculator.house.maxPrice | currency:'$':0}} gets you in {{calculator.geo.selectedMunicipality}}
Listing content provided by REALTOR® members of The Canadian Real Estate Association

Here are some properties listed on REALTOR.ca in your desired location.

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    Building Type: {{property.BuildingType}}

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    See details on REALTOR.ca

    See similar homes on REALTOR.ca >

    Sorry. There are no properties currently listed on REALTOR.ca in {{calculator.geo.selectedMunicipality}}, {{calculator.geo.selectedProvince}} between {{category=='highPrice'? (calculator.house.maxPrice - calculator.house.priceRange|currency:'$':'0') : (category == 'lowPrice'? (calculator.house.minPrice|currency:'$':'0') : (calculator.house.minPrice + calculator.house.priceRange|currency:'$':'0'))}} and {{category=='highPrice'? (calculator.house.maxPrice|currency:'$':'0') : (category == 'lowPrice' ? (calculator.house.minPrice + calculator.house.priceRange|currency:'$':'0'): (calculator.house.maxPrice - calculator.house.priceRange|currency:'$':'0'))}}. Consider modifying your choice of location.

Sorry, there are no properties within your lower affordability price range. Consider:

  • Modifying your options above
  • Updating your search location