Two modes: find your maximum budget, or check if a specific home fits your finances. Every Canadian rule built in.
Correct Canadian Compounding
2025 OSFI Rules
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Your Details
Your Annual Salary (before tax) i
$
Enter your gross salary — the full amount before taxes are taken off.
Other Annual Income ioptional
$
Home Purchase Price
$
Your Annual Salary (before tax)
$
Your Down Payment i
$
📍 Location (affects property tax & land transfer tax)
Province
City (for property tax rate)
⚙️ Mortgage Settings
Interest Rate i5.25%
Current best 5-yr fixed rate: ~3.94% (insured, 2025)
How Long to Pay Off the Mortgage? i
Payment Schedule i
Monthly Condo Fees i0 if a house
$
💳 Other Monthly Debt Payments
Total Other Monthly Debts i$0
Higher debts reduce how much mortgage you qualify for. Do not include rent.
🎉 First Time Home Buyer?
👥 Buying with a Partner or Spouse?
Partner's Annual Salary (before tax)
$
⚠️ For planning purposes only. Not financial or mortgage advice. Always speak with a licensed mortgage professional before making any decisions.
Your ResultsReady
🏠
Enter your income and down payment
We'll calculate your maximum purchase price, monthly cost breakdown, and exactly how much cash you need on closing day.
Maximum Purchase Price
—
—
—
of income
Mortgage Payment—
Property Tax—
Heat (est.)—
Will the Bank Approve You?
Housing costs vs income (GDS) i—
Must be under 39% to qualify
Housing + all debts vs income (TDS) i—
Must be under 44% to qualify
Your Monthly Housing Costs
Mortgage payment (principal + interest)—
Property tax (monthly estimate)—
Heat (lender's standard estimate)$150
Condo fees (50% counted)—
Total Monthly Housing Cost—
Cash Needed on Closing Day
Down payment—
CMHC mortgage insurance i—
Land transfer tax—
🎉 First time buyer rebate—
Closing costs (lawyer, inspection, etc.)—
💵 Total Cash Needed on Closing Day—
Interest Savings — Accelerated Payments
Years saved with accelerated bi-weekly—
Interest saved over full amortization—
⚠️ Important: Estimates for planning only. Not financial or mortgage advice. Actual approval depends on your credit score, employment history, and lender policies. Always speak with a licensed mortgage broker before making any offer. CanadaCalc accepts no liability for decisions made based on these estimates.