When you start looking for a home to purchase, you will probably ask, "How much can I afford?Ē
Itís important to take all of your income sources and living expenses into consideration. Fortunately, our mortgage affordability calculator can help you find the answer.
When purchasing a home, a buyer needs to make a down payment, pay closing costs and buy mortgage default insurance. Additional costs such as property taxes, utilities, condo fees and payments to service existing debt also need to be considered. The calculator will account for these additional details and identify a maximum purchase price that you can afford.