Property Affordability

Information And Calculations, Simplified!

Affordability is one of the key things to think about before looking for your dream property. Most buyers have a fixed income and a budget, and it is critical to consider affordable properties. Property affordability is based on, but not limited to, the following: the total income, loans and debts, condo expenses, personal expenses, property tax, and utilities. The calculator below will only give you an estimate on the affordable property price based on Gross Debt Service (GDS) and Total Debt Service (TDS) guidelines. However, Different lenders have various requirements and different criteria considerations, so you must consult with lenders and mortgage specialists for more accurate numbers depending on lender criteria and your situation.

Property Affordability Calculator

Your Annual Income
Spouse Annual Income
Annual Property Taxes
Monthly Debt/Loan Payments
Monthly Condo/Maintenance Fees
Monthly Heating Expenses
Interest Rate (Annual)
Amortization (Years)

%    $
Monthly Mortgage Payment
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Affordable Property Price
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Downpayment must be at least 5% and not more than 100%
Amortization cannot be 0, and cannot exceed 30 years (25 years for downpayments less than 20%)
Interest Rate cannot be 0 or exceed 100%

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Disclaimer: The above calculator is for illustration purposes only. It is not intended to provide any advice, including but not limited to, financial, investment, tax, legal, and accounting advice. The calculator should not be acted or relied upon without seeking the advice of a professional to ensure that your own circumstances are properly considered and action is taken on the latest available information. Pre-defined values represent examples that are hypothetical and are shown for illustrative purposes only, and user inputted values automatically update the calculation results. While care is taken in the preparation of this calculator and regular updates are maintained, No express or implied warranties, representations, guarantees, or endorsements are provided with respect to any of the above information, or the calculations in connection with this calculator, as to the accuracy, completeness, reliability, applicability, and fitness for a particular purpose. Affordability Calculator does not consider any CMHC insurance costs. Interest Rate is compounded semi-annually. We ("Fady Daoud" and "") are not responsible, and will not be liable to you or anyone else, for any losses or damages, whatsoever and howsoever caused, arising from any errors or omissions in any of the above information or calculation results, or any action or decision made by you in reliance on any of the above information or calculation results.