How much home can you afford?
Four questions and a real number. Nothing is sent anywhere and no email is asked for.
Step 1 of 4
Before tax, everyone who will be on the mortgage.
Step 2 of 4
Car payments, student loans, credit card minimums and lines of credit. Not rent, and not your future mortgage.
Step 3 of 4
Whatever is actually available at closing, including any gift.
Last step
Not sure what rate you would get? Leave it where it is for now.
Amortization
You could afford around
$0
estimated purchase price
Uses a 39 percent gross debt service guideline with Canadian semi annual compounding, and excludes property tax, heat and condo fees. A starting point for a conversation, not mortgage advice or a preapproval.
Your answers stay on this pageBuilt for St. Thomas, Port Stanley and London buyers
How your number is worked out
The same guideline a lender starts from, done in the open so you can see where the figure comes from.
A gross debt service guideline: the share of income a lender will let go to housing.
Car payments, student loans, card minimums and lines of credit.
This is the estimated monthly payment on your result.
At your rate and amortization, with Canadian semi annual compounding.
Whatever is available at closing, including any gift.
The big number on your result, as a starting point.
What it leaves out
Property tax, heat and condo fees are not included, so a lender's figure can come in lower once those are counted.
Not a preapproval
A starting point for a conversation, not mortgage advice. A preapproval from a lender gives you the real number.
Now that you know your number
Get a hand with what comes next
A budget on a screen is a starting point. Tell us where you are at and we will help you turn it into a plan, whether that means getting ready for a preapproval or a look at what that number buys around here.
Ryan and Paul
Which neighbourhoods stretch it furthest, and how to compete without overpaying.
Ready when you are
Tell us about your move
Your message goes to both of us. Whoever is free first will reply within one business day.
Thank you. Your message is in both of our inboxes, and one of us will reach out within one business day.
