How Much Home Can You Afford?

How This Calculator Helps You, the Professional

As a real estate professional, setting the right expectations with buyers is crucial. This Home Affordability Calculator helps you quickly show your clients how much home they can realistically afford, including the impact of different down payment options, debt repayment, and interest rate changes.

⚠️ This tool provides an estimate only. It is not a mortgage approval. For an official pre-approval, clients should connect with a licensed mortgage professional.

Monthly Before-Tax Income ($): Monthly Debt Obligations ($): Condo Fees (Monthly): Estimated Heating Costs (Yearly):

Select City:

Property Tax Mill Rate:

Down Payment Option: Interest Rate (%):

Maximum Monthly Payment Estimate based on stress test - not actual payment($): Estimated Purchase Price ($): Down Payment ($): Mortgage Default Insurance ($): Total Mortgage with Insurance ($):

Disclaimer: This calculator is a tool for informational purposes only and not a substitute for financial advice or pre-approval. GDS is calculated at 39%, TDS at 44% per standard lender guidelines. It includes mortgage principal and interest, estimated heating costs (defaulted to $2,000/year or ~$167/month), monthly condo fees (optional), and property taxes using the most updated online mill rates available, ie 2025 Calgary residential mill rate of 0.0061803. If you are purchasing a condo, please enter your monthly condo fees; otherwise, enter zero. Actual rates and approval will vary by lender and individual circumstances.