BC Mortgage Affordability Calculator
What is the Maximum Purchase Price You Can Afford
BC Mortgage affordability calculator
Understand How Much You Can Afford
When searching for a new home, the first step is to figure out how much mortgage you can afford. There are several factors to calculate this, but the mortgage affordability calculator below takes all of them into account automatically and will show you the maximum purchase price that you can qualify for.
When you’re looking to buy a home, it’s handy to know how much you can afford. Being able to calculate an estimate of how much you’re able to borrow is an important part of setting your budget.
You need to determine if you have enough cash resources to purchase a home. The cash required is derived from the down payment put towards the purchase price, as well as the closing costs that must be incurred to complete the purchase. We can help you estimate these closing costs with the first tab under the mortgage affordability calculator above.
Taken together, understand how large a mortgage you can afford to borrow and the cash requirements will help you determine what kind of home you should be on the look out for. To learn more about mortgage affordability, and how our calculator works, have a read of the information below.