Affordability & Mortgage Payment
Estimate your mortgage payments and upfront cash based on price, down payment, interest rate, and amortization. Optionally include CMHC insurance and PST.
Inputs
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20% down
Summary
Based on your incomes, debts, and limits, this price may not qualify. Limiting factor: GDS. Estimated shortfall in qualifying mortgage: $317,204.64.
Mortgage Amount$640,000.00
Upfront Cash (Down + PST)$160,000.00
Monthly Payment$3,926.34
Biweekly Payment$1,812.16
Accelerated Biweekly$1,963.17
Total Interest (life)$537,902.00
Total Paid (life)$1,177,902.00
Payments shown are for illustration. Actual payments vary by lender schedule and compounding. Accelerated biweekly approximates monthly/2 paid 26 times year.
Affordability (Income-based)
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Estimates annual taxes as a percentage of home price.
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50% considered for GDS; 100% for TDS.
Stress test rate is used to qualify affordability (vs contract rate for payment calc). Typical policy uses max(5.25%, APR + 2%).
Affordability Summary
Monthly Gross Income$10,000.00
Qualifying Rate7.49%
Max Mortgage$354,966.14
Max Home Price (with current down payment)$514,966.14
Non‑Mortgage Housing (est.)$579.14
Property Tax (monthly est.)$429.14