START HERE
Your rent. Your possibilities.
Enter your rent and choose a down payment. Your results update together.
YOUR STARTING POINT
A home price to explore
Calculating…
Based on your rent and down payment choice.
Monthly amounts
- Mortgage payment
- Property tax
- Home insurance
- Condo fees
- Utilities
The ownership total includes all five amounts above. Adjust the example bills below to suit the home.
Illustrative cost worksheet only. This is not financial, mortgage, tax or legal advice, or a mortgage approval. Actual costs may vary. Seek independent financial and legal advice before making any decisions.
Adjust the monthly ownership billsChanges here update the ownership total above.
Adjust these example costs for the home you have in mind. Avoid counting costs already included in condo fees.
You can clear and replace any amount. An empty bill counts as $0.
YOUR NEXT CHAPTER
For more a month
A home to call your own.
A place to make memories, with the potential to build equity over time.
Tell Ash your budget, preferred location and what matters most in your next home.
TAKE THE NEXT STEP
Let’s explore homes that fit.
Keep your numbers and talk through your options with Ash.
About this estimate
Canadian dollars, rounded to the nearest dollar. Uses monthly mortgage payments and monthly compounding. Your rent plus utilities is used as the mortgage payment budget to estimate a home price; the ownership total then adds the bills shown. Choose 5%, 10% or 20% of the calculated home price, or enter your own dollar amount. The starting selection is 10%. A larger down payment may increase the home price while keeping a similar mortgage payment. The estimate respects minimum down payment requirements: 5% applies up to $500,000, and at least 20% is required from $1.5 million. Mortgage insurance is included when required. An insured 30 year mortgage assumes eligibility as a first time buyer or for a new build. Income, debts and credit are not assessed. Repairs and one time buying expenses, such as legal fees and land transfer tax, are not included.
A mortgage professional can confirm financing and eligibility. CMHC down payment requirements
Potential equity depends on property values and the amount you owe. FCAC explanation of home equity
CMHC eligibility details · How mortgage interest works · Rate calculation example