What Can I Afford Calculator

Enter Your Monthly Information:
Gross Income
Property Taxes
Condominium Fees
Heating Costs
Borrowing Payments (e.g. credit cards, loans)
Enter Your Mortgage Information:
Interest Rate
A maximum purchase price of:
Based on...
A minimum down payment of:
A monthly payment of:
A total mortgage amount of:

Includes mortgage default insurance premium of $

Include Mortgage Default Insurance Premiums

For the purposes of this tool, the default insurance premium figure is based on a premium rate of 4.0% of the mortgage amount, which is the rate applicable to a loan-to-value ratio of 90.01% – 95.00%. However, the insurance rate for your scenario may be higher or lower than this, which would normally result in a higher or lower insurance premium, respectively. Current premium rates may be found at https://www.cmhc-schl.gc.ca/en/co/moloin/moloin_005.cfm.

A maximum purchase price that is over $1,000,000 will use 20% minimum down payment for illustrative purposes, however a higher percentage may be required by your lender. Speak to your lender for exact amount.