Canada Mortgage Affordability Calculator

Canada Mortgage Affordability Calculator

Annual Household Income (CAD)

Down Payment Amount (CAD)

Interest Rate (%)

Amortization Period (years) ? In Canada, typical amortization periods are 25-30 years for insured mortgages

Monthly Debt Payments (CAD) ? Include credit cards, car payments, student loans, etc.

Annual Property Tax (CAD) ? Average Canadian property tax is about 0.5-1.5% of home value

Monthly Heating Cost (CAD) ? CMHC includes this in affordability calculations

Mortgage Affordability Results

Maximum Home Price: $0

Mortgage Amount: $0

Monthly Payment: $0

Gross Debt Service Ratio (GDS): 0%

Total Debt Service Ratio (TDS): 0%