Find out how much you qualify for.
Use this calculator to give you a general idea as to what you can afford. If you are planning to buy you will need a pre-approval from a lender who will look more closely at your work & credit history. You can do this on-line by going to Capital Mortgages Inc.
You can also check your credit score at Equifax Canada or at Trans Union Canada.
Follow these steps for the calculator and enter the......
- Gross Monthly Income.
- Ammortization period in years. (eg. 25 yrs)
- Interest Rate.
- Down Payment.
- Monthly Housing Expenses. These include property taxes (150-250), insurance (80-90), heat (300), hydro (100), etc.
- Other Monthly Expenses. These include car loans, credit card payments, etc.