Home Affordability Calculator
Discover your maximum home purchase price
Affordability Calculator
Find out how much house you can afford based on your financial situation
You Can Afford a Home Valued at
$0
Estimated Monthly Payment
$0
Based on a front-end debt-to-income ratio of 35%
This is an estimate only. Affordability may vary based on credit score, additional expenses, and lender requirements.
How to Use This Calculator
Enter your financial details below to calculate the maximum home price you can afford based on your income, debts, and down payment.
Key Factors Affecting Your Home Buying Budget:
- Gross Household Income: Your total annual income before taxes and deductions.
- Monthly Debt Payments: Existing financial obligations like car loans, student loans, and credit card payments.
- Down Payment: The upfront payment you can make toward your home purchase.
- Interest Rate: The current mortgage interest rate you qualify for.
- Debt Service Ratios: Lenders in Canada typically use two ratios to determine affordability:
- Gross Debt Service (GDS) Ratio: Housing costs should not exceed 32% of your gross income.
- Total Debt Service (TDS) Ratio: Total debt payments (including housing) should not exceed 40% of your gross income.
Other Useful Tools
Mortgage Calculator
Estimate your monthly mortgage payments based on loan amount, interest rate, and term.
Frequently Asked Questions
Common questions about home affordability
Note: This calculator is for estimation purposes only. The actual amount you can borrow may vary based on lender-specific criteria, your credit score, and other factors. Always consult with a mortgage professional for personalized advice.
Last updated: April 2025