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Follow the steps below to calculate the mortgage you qualify for
What is your annual household income before deductions?
$
How much are your total monthly payments on loans,
credit cards or other debts that will not be paid off before you buy a home?
$
amount you qualify for:
$
The minimum downpayment that you need will vary depending on the geographic location of the home you buy. Contact your
local CMHC office
for the price ceiling in your area with less than a 10% downpayment.
If you live in Toronto, Vancouver or Victoria, where prices are relatively high, your minimum downpayment will be:
$
If the ceiling price in your area is $175,000 your minimum downpayment will be:
$
Otherwise your minimum downpayment will be:
$
Calculate your mortgage payments
(based on a 25 year amortization period)
Mortgage Amount:
$
Select a term/interest rate:
Select payment frequency:
weekly
bi-weekly
semi-monthly
monthly
monthly payments:
$