Calculate your mortgage affordability and estimate the maximum loan amount for your next home.
Estimate your mortgage borrowing capacity.
Easily estimate your maximum mortgage borrowing capacity with a few clicks. Our borrowing capacity calculator is based on your debt-to-income ratio to give you an accurate calculation.
Estimate your mortgage borrowing capacity.
Easily estimate your maximum mortgage borrowing capacity with a few clicks. Our borrowing capacity calculator is based on your debt-to-income ratio to give you an accurate calculation.
Based on Canadian lending standards.
Our mortgage borrowing capacity calculator is transparent and does not hide any bank fees, it is based on the calculation standards of the Canada Housing and Mortgage Corporation (CMHC).
Based on Canadian lending standards.
Our mortgage borrowing capacity calculator is transparent and does not hide any bank fees, it is based on the calculation standards of the Canada Housing and Mortgage Corporation (CMHC).
Interconnected Calculators.
Professionals who are ready to guide you.
Discover Why Our Mortgage Affordability Calculator Is So Special
Calculate your borrowing capacity.
Before embarking on your next real estate venture, it's essential to understand your borrowing capacity. This amount primarily depends on various factors such as your income, monthly expenses, and the costs associated with the purchase of your chosen property.
Importance of Calculation
Performing this calculation in advance provides you with a clear idea of your ability to repay the mortgage, thereby avoiding any unpleasant surprises down the line.
Using a Calculator
The simplest and most effective way to get an accurate estimate is by using a borrowing capacity calculator, like the one provided by ImmoCalcul. This will enable you to target properties that fit within your budget.
Mortgage stress test.
The mortgage stress test is a safety mechanism designed to protect prospective homeowners in Canada from excessive indebtedness. Its purpose is to ensure that borrowers can manage their debts responsibly and that lenders do not take undue risks.
Evolution of Approval Rules
Since the 2008 financial crisis, mortgage loan approval rules have been adjusted to adapt to changing economic realities. This also includes how interest rates affect borrowing capacity.
Future Financial Planning
It is thus crucial to check whether your financial situation can withstand higher mortgage payments in the future. ImmoCalcul's borrowing capacity calculator can help you get a clearer picture of your circumstances.
Increase your borrowing capacity.
There are several methods to optimize your borrowing capacity, meaning to increase the amount you can borrow for a real estate purchase. Here are some effective strategies to enhance your purchasing power:
Debt and Budget Management
- Pay off your existing debts to increase your down payment. - Use a budget planner to control your monthly expenses and stick to that budget.
Credit Management
- Close unused credit accounts to lower your debt-to-income ratio. - Maintain a good credit score to benefit from lower interest rates.
Purchasing and Financing Strategies
- Choose a less expensive property to reduce your mortgage payments and down payment. - Make a larger initial payment to decrease the amount of your mortgage loan. - Opt for a longer amortization period to reduce your monthly payments.
Debt ratios.
Understanding the impact of debt ratios on your borrowing capacity is crucial when you are considering buying a property.
Explaining Debt Ratios
There are two main debt ratios to consider: the Total Debt Service Ratio (TDSR) and the Gross Debt Service Ratio (GDSR). These ratios assess your ability to repay a mortgage loan by comparing your total debts, including car loan payments, student loan payments, and credit card bills, to your income.
Use Our Calculator
To get an accurate estimate of how much you can borrow, we recommend using our Borrowing Capacity Calculator.
Calculate your borrowing capacity
Before embarking on your next real estate venture, it's essential to understand your borrowing capacity. This amount primarily depends on various factors such as your income, monthly expenses, and the costs associated with the purchase of your chosen property.
Importance of Calculation
Performing this calculation in advance provides you with a clear idea of your ability to repay the mortgage, thereby avoiding any unpleasant surprises down the line.
Using a Calculator
The simplest and most effective way to get an accurate estimate is by using a borrowing capacity calculator, like the one provided by ImmoCalcul. This will enable you to target properties that fit within your budget.
Mortgage stress test
The mortgage stress test is a safety mechanism designed to protect prospective homeowners in Canada from excessive indebtedness. Its purpose is to ensure that borrowers can manage their debts responsibly and that lenders do not take undue risks.
Evolution of Approval Rules
Since the 2008 financial crisis, mortgage loan approval rules have been adjusted to adapt to changing economic realities. This also includes how interest rates affect borrowing capacity.
Future Financial Planning
It is thus crucial to check whether your financial situation can withstand higher mortgage payments in the future. ImmoCalcul's borrowing capacity calculator can help you get a clearer picture of your circumstances.
Increase your borrowing capacity
There are several methods to optimize your borrowing capacity, meaning to increase the amount you can borrow for a real estate purchase. Here are some effective strategies to enhance your purchasing power:
Debt and Budget Management
- Pay off your existing debts to increase your down payment. - Use a budget planner to control your monthly expenses and stick to that budget.
Credit Management
- Close unused credit accounts to lower your debt-to-income ratio. - Maintain a good credit score to benefit from lower interest rates.
Purchasing and Financing Strategies
- Choose a less expensive property to reduce your mortgage payments and down payment. - Make a larger initial payment to decrease the amount of your mortgage loan. - Opt for a longer amortization period to reduce your monthly payments.
Debt ratios
Understanding the impact of debt ratios on your borrowing capacity is crucial when you are considering buying a property.
Explaining Debt Ratios
There are two main debt ratios to consider: the Total Debt Service Ratio (TDSR) and the Gross Debt Service Ratio (GDSR). These ratios assess your ability to repay a mortgage loan by comparing your total debts, including car loan payments, student loan payments, and credit card bills, to your income.
Use Our Calculator
To get an accurate estimate of how much you can borrow, we recommend using our Borrowing Capacity Calculator.
Estimate Your Mortgage Affordability in Just a Few Clicks.
In just a few clicks, evaluate the amount you could afford for the purchase of your next home.
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