Mortgage Calculator                    

According to the CMHC & most lenders, they want your GROSS DEBT SERVICE(GDS) to be less than 32%, and your TOTAL DEBT SERVICE(TDS) to be less than 40% of your income, in order to qualify you for a mortgage.

Knowing that the GDS=32% & the TDS=40%, and you know what your family gross income is, so with a little math, you can find out the figure that represents PIT (principal, interest, taxes) that the bank feels you can afford!

This calculator will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying .

Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs. To email yourself a copy of the results, click the Receive this Detailed Analysis link

Required Fields
Estimate Insurance to of Cost
Estimate Tax to of Cost
Optional Fields
Receive Detailed Analysis  Receive this Detailed Analysis

Your Monthly Payments
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
Cost of House = [(Monthly income x Debt Ratio) –
monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %