AffordNorth

Based on current Canadian mortgage guidelines · Free, no sign-up

How Much Home Can You Actually Afford?

Calculate your estimated buying power, monthly payment and cash needed to buy using Canadian mortgage guidelines.

Car loans, credit cards, lines of credit, support

First-time buyer?

No account required. No impact to your credit score.

Example rateDefault of 4.49% is an illustrative assumption, not a live market rate. Enter your own rate.

Amortization

Estimate — varies by municipality

Estimate

Buying in Toronto?
New build?
Will you live in the home?
Nontraditional down payment?

Default 0%. Only enter a share after checking provincial and Toronto first-time rules. CMHC first-time status alone does not qualify; spouses and partial ownership affect refunds.

Closing cost estimates — editable defaults, not government-mandated

Understanding your estimate

Your estimated buying power is not a mortgage approval or a recommendation to spend the maximum. It compares your income, debt, down payment, housing costs and entered interest rate using CMHC qualification benchmarks. A comfortable scenario uses lower planning ratios; your actual budget may be different.

Does the number include closing costs?

Ontario and Toronto land transfer tax, eligible rebates you separately confirm and editable expense estimates are included. Outside Ontario, transfer tax is not modelled, so the displayed cash amount is only an incomplete subtotal.

Does meeting the 39% / 44% benchmark mean I'm approved?

No. These are CMHC qualification benchmarks, not an approval decision. Individual lender requirements may differ, and a lender assesses the full application.

Is the displayed interest rate a live offer?

No. The starting rate is an example assumption, not live market data or an offer. Enter a rate you want to test under Advanced options to see how it changes the estimate.

Read the affordability guide

What the estimate includes

Canadian qualification logic

Estimates account for applicable Canadian mortgage qualification guidelines.

Cash-to-close estimates

See down payment, applicable land-transfer taxes, rebates and mortgage-insurance-related costs.

Transparent assumptions

Review important assumptions, sources and verification dates behind the calculation.

Renewing your mortgage?

See how a new rate could change your payment and compare renewal scenarios.

Calculate my renewal

More Canadian mortgage tools

Payment calculatorRegular monthly or biweekly payment at a rate you enter.CMHC insurance calculatorPremium, financed loan and premium tax with under 20% down.Ontario land transfer taxProvincial and Toronto tax with first-time rebates.Renewal calculatorCompare a renewal offer with another rate.