How much home can I afford?
Start with your household income and down payment. We work backward to an estimated purchase price.
Amounts are Canadian dollars. Change any number to update your answer.
Required below 20% down with 30 years. Check first-time buyer or new-build eligibility.
This is intentionally conservative and uses published 39% GDS and 44% TDS maximums. Individual lenders can produce a different result.
Already have a home price in mind? Use Income Needed to Buy a Home.
Example: starting with household income
With $140,000 annual household income, $100,000 down, a 4.49% mortgage rate and 25 years to repay, the starting assumptions produce a maximum price near $684,015. They include $500 monthly debts, $150 monthly heating and property tax estimated at 0.65% of the purchase price.
The tool uses the 6.49% qualifying rate and checks the down payment too. A higher debt payment or property-tax estimate lowers the result. Closing costs require separate savings.