Free Canadian calculator
Mortgage Affordability Calculator Ontario
This tool uses a simple housing-payment assumption for education; lender qualification can be different.
Illustrative housing payment limit—
Estimated mortgage—
Estimated home price—
Important note
Estimate an illustrative home price using income, debt, interest rate, amortization and down payment.
Illustrative estimate only. Actual results can differ because of taxes, payroll frequency, lender underwriting, fees, compounding conventions and personal circumstances.
Frequently asked questions
Is this the amount a bank will approve?
No. Lenders consider debt-service ratios, credit, income type, property costs and other factors.
Why is the result illustrative?
A simplified income-based assumption is used rather than a lender's full underwriting model.