MORTGAGE AFFORDABILITY CALCULATOR
How Much Home Can You Afford?
Buy Confidently, Live Securely
Whether you’re new to applying for a mortgage (don’t fret, we’ve got you), or you’re a seasoned investor looking to add another property to your real estate portfolio – the mortgage terrain is ever-evolving here in Toronto and nationwide. It’s important to work with a licensed mortgage broker so that you can buy with confidence and live comfortably with your new mortgage.
Use these handy affordability calculators, designed by top finance brokers, as a quick way to see “how much house you can afford” in today’s market. This estimation is a great starting point to establish which homes you may be able to start looking at in your home search, as well as a homeownership budget. Get started with our Mortgage Calculators below.
Keep in mind, these calculators are not set in stone, nor a pre-approval, and it’s best to connect directly with one of our top mortgage agents to solidify a true pre-approval. This pre-approval will not only show you your home affordability, but it also gives you the opportunity to lock in our best mortgage broker rates for up to 120 days.
What factors influence your mortgage affordability?
- Your gross combined household income
- Monthly housing expenses
- Your monthly loan and debt obligations
- Your current credit standing and rating (our certified mortgage advisors will pull your credit bureau and review it in detail with you – we also have a Credit Tips Centre to get you started too)
- The amount you have saved for a down payment
- The mortgage rate (based on the current national stress-test regulations)
First Time Home Buyer?
Don’t worry if this is the first time you’ve applied for a mortgage – we’re a team of seasoned Toronto mortgage brokers who will take the time to educate you every step of the way. Let us help you solidify mortgage financing for a home that you can sensibly afford.
Layout with Links to 4 Resources for Buyers;
- First Time Home Buyer Page
- Mortgage Application Checklist
- Online Application
- First Time Home Buyer Resources (Blog or Grants)
Our mortgage professionals make purchasing Toronto real estate and beyond easy – you can head over to our easy-to-use online application, head over to our direct chat link, or give us a call.
Browse our other Great Tools and Resources Here