How much can I afford?
Your maximum purchase price under current mortgage rules and the stress test.
Income & debts
Annual household income
Down payment
Monthly debt payments
Credit score range
Housing costs
Annual property tax
Monthly condo fees
Annual heating cost
Rate & terms
Interest rate5.00%
Amortization25 years
First-time buyer
New build
Buying in Toronto
Maximum purchase price
$435,000
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Monthly payment$2,248.63
Stress-tested payment$2,707.98
Stress test rate7.00%
Mortgage amount$375,000
Total mortgage$386,625
Amortization used25 years
Land transfer tax (cash at closing)$1,175
Approval confidencehigh
Your income (stress test) is what caps this price.
Ontario PST of $930 on the premium is paid in cash at closing.
Estimates only. Not a commitment to lend. Results depend on lender guidelines.