Not sure how much home you can afford? Our Mortgage Affordability Calculator helps you estimate your budget before you start house hunting. It’s the smart way to plan your purchase — and avoid financial surprises down the road.
Whether you’re buying in Toronto, Vancouver, or anywhere in Canada, this tool shows you what price range fits your income and lifestyle. It works just like an RBC mortgage calculator, but gives you more flexibility and independent advice.
What the Affordability Calculator Considers
- Your gross annual household income
- Down payment amount or percentage
- Current debt obligations (credit cards, car loans, etc.)
- Estimated mortgage interest rate
- Amortization term (usually 25 or 30 years)
Once entered, you’ll instantly see an estimated maximum home purchase price — helping you set realistic expectations as you explore listings.
Why Use a Mortgage Affordability Calculator?
This tool helps you answer critical questions like:
- How much mortgage can I qualify for?
- Is my income high enough to buy in my preferred area?
- How do existing debts affect what I can borrow?
- What price point should I stick to when using Toronto MLS?
It’s ideal for first-time buyers, growing families, or anyone looking to move up in the market — especially in a dynamic environment like the Toronto housing market.
Plan Like the Banks — But Smarter
Major lenders like RBC and BMO use similar formulas behind the scenes. But their calculators — like the RBC mortgage calculator Canada or BMO mortgage payment calculator — only show estimates based on their own rates.
Our tool works independently. We help you plan smarter by pairing these results with advice from licensed brokers, plus access to the best rates in Canada — including RBC mortgage rates, BMO fixed/variable options, and more.
Get Pre-Approved with Confidence
After using the affordability calculator, our team can help you verify the numbers and secure a real mortgage pre-approval. That means:
- Stronger offers with sellers
- Locked-in rates while you shop
- Peace of mind knowing your purchase is within reach
Try the calculator above, then connect with a mortgage broker in Toronto to take the next step.