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  Mortgage Glossary

How Much Of A Home Can I Afford?

Simply enter your financial details in the fields below and we can show you:

  • how much of a home you can afford
  • the amount of mortgage you may qualify for
  • what mortgage payments to expect
  • some strategies on how to save money over the life of the mortgage

It's as simple as entering your details and hitting calculate! You will be able to print your results and explore multiple scenarios to help you take a comfortable first step toward home ownership.1

Step 1 of 2 * Required field

Household Income
* Gross Household Income $
       
Household Debt
  Loan Loan Name   Monthly Payment $
         
           
  Lease Lease Name   Monthly Payment $
         
           
  Credit Card Card Name   Credit Limit2 $
         
           
  Line of
Credit
Line of Credit Name   Credit Limit2 $
         
           
Estimated Future Property Expenses
* Property Taxes $
*
Heating Costs $  
  Condo Fees $  
         
Mortgage Details
  Down Payment
$
      Minimum of 5% of the property purchase price is required for your down payment for credit approval purposes.
*
Interest Rate
  TD Canada Trust Mortgage Interest Rate Over Term3
       
  Optional - Enter Your Own Interest Rate4 %
       
*
Amortization Period   year(s)
      Usually 5 to 25 years. This is the repayment period of the mortgage.
       



1 The calculator is for demonstration purposes only and is not part of the application process.
2 We calculate your debt load based on credit available to you. It is assumed that you pay 3% of the credit limit monthly.
3 Interest rate as of the date you input this field. This may not be the rate we will use to qualify you.
4 Interest rate will be assumed to be a fixed rate, calculated semi-annually, not in advance. This may not be the rate we will use to qualify you.