Keep cash for closing
Set money aside for legal or notarial work, applicable transfer taxes, adjustments and moving. Get quotes for your location rather than spending all your savings on the down payment.
A home budget you can explore.
Bring income, savings and recurring costs together. See how each change affects an illustrative purchase budget before you start visiting homes.
Start with your numbers
These calculations stay in your browser. Adjust the examples to your situation.
A clearer starting point.
Look beyond the mortgage
Review the monthly total alongside groceries, transportation, maintenance, insurance and your savings goals. A lender’s limit and your comfortable budget may differ.
Confirm with a lender
Use the result to prepare a financing conversation. A lender still reviews your credit, income documentation, debts and the property.
Assumptions and sources
CAD, owner-occupied home, traditional down payment and a 25-year amortization. The illustration uses 39% GDS and 44% TDS, including property tax, heating and half of condo fees for qualification. The stress rate is the greater of 5.25% and your entered rate plus 2 percentage points. Minimum down payment is 5% of the first $500,000 and 10% of the remainder below $1.5 million; at $1.5 million or more it is 20%. Below 20% down, estimated CMHC premiums of 2.8%, 3.1% or 4% are added to the loan according to loan-to-value. Taxes on that premium, other closing costs and ongoing insurance/maintenance are excluded; reserve cash for them separately. Rates shown are examples, not offers. Eligibility and lender criteria vary. Assumptions reviewed October 14, 2026.