How much house can I afford?

No. It is an estimate. Lenders also review credit, income type, property details, documents, insurer rules, and their own policies.

The biggest mortgage you might qualify for can still leave the month tight. This calculator also checks what is left from take-home pay after housing, debt, bills, and savings.

The stress test checks whether the payment still works at a higher rate than the rate you entered. It is one way lenders look at whether a mortgage is affordable.

Buying a home can also include land transfer tax, mortgage insurance tax in some provinces, legal costs, moving costs, and a cash buffer after closing.

Interest, property tax, insurance, maintenance, condo fees, and closing costs are all money out the door. They do not build the part of the home you own. The mortgage payment is only part of what owning costs.

Not automatically. The maximum can leave the rest of the month tight. This calculator shows both the qualifying range and what is left after housing, bills, debt, and savings.