Mortgage Affordability Calculator

To help you estimate the maximum mortgage you can afford, CMHC has developed the following easy-to-use mortgage tool. 

 

Mortgage Affordability Calculator

To help you estimate the maximum mortgage you can afford, CMHC has developed the following easy-to-use mortgage tool.

Calculation Results

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Maximum Mortgage represents the lesser of the maximum mortgage permitted with the down payment provided, or the maximum permitted given your income and debt obligations.

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  • This calculation is approximate and does not include CMHC Insurance Premiums, applicable sales taxes, closing costs or other fees that may be required.
  • Typically, lenders require mortgage loan insurance for loans made to anyone that wishes to purchase a home with a down payment of less than 20% of the purchase price. However, lenders sometimes require mortgage loan insurance for homebuyers even if their down payment is greater than 20% of the purchase price. This calculator will return a premium amount regardless of the down payment amount entered.
  • For CMHC-insured mortgage loans, the minimum equity requirement is:
    • 5% down payment for the purchase price portion ≤ $500,000.
    • 10% down payment for the purchase price portion > $500,000 to < $1,000,000

Your Information

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Anticipated Monthly Expenses

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Borrowing Details

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Canada

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