Bev Thompson

Ottawa, ON
Mobile: 613-612-6683 Fax: 613-823-0951 Email Bev

How Much Can You Afford?


Calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying.

When you are ready to start your home search, call me and let's talk about your needs, wants and concerns. With over 30 years of experience, I will take the stress out of home buying for you.

 

Homebuying Tools — Calculators from CMHC

new Our calculators have been updated to reflect the premium increases of May 1, 2014. In addition, we have made the design more accessible and mobile friendly.

Easy to use mortgage tools to help you establish your financial situation, determine how much house you can afford and the maximum price that you should be considering.

Debt Service Calculator
A tool that allows homebuyers to evaluate their financial situation and understand how much they can comfortably afford to spend on a mortgage.

Premium Calculator
A tool to help you estimate the premium payable when you are purchasing a home. Simply enter the purchase price, down payment and the amortization period.

Household Budget Calculator
Compare your income with your current or planned expenses and debt payments and see what you can afford.

Mortgage Payment Calculator
A tool to find how much and how often your payment will be. Compare options and find one that's right for you.

Mortgage Affordability Calculator
Easy to use mortgage tool to help you estimate the maximum mortgage you can afford.

 

Sincerely,
Bev Thompson, Broker of Record,
Selling Ottawa and Barrhaven homes since 1984!

Bev Thompson Real Estate Brokerage

Your Key to Success

Direct: 613-612-MOVE (6683)

mail@BevThompson.com

www.BevThompson.com

 

Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs.  To email yourself a copy of the results, click the Receive this Detailed Analysis link.

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:
Loan Insurance (%):
Total Loan (Mortgage) Amount:
 
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (%):
Qualifying Income of % GDS Ratio:
Qualifying Income of % TDS Ratio:
What You Can Afford
We are using the % ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
 
Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent: $
Annual Rental Increases:  %
Monthly Renter Insurance: $
Savings or Investment Rate:  %
 
Owning
Planned # of years in home: 
Yearly appreciation of the home:  %
Annual home maintenance:  %