Thinking Of Buying A New Home?

Use this calculator to get an idea of what you'll be able to afford:

A - Your annual salary (before deductions/Line 150 on your tax return)

$_____________

B - Your spouse's anual salary (if applicable)

$_____________

C - Other income (rental, dividends, etc.)

$_____________

D - Add total income (A+B+C)

$_____________ (= D)

E - Multiply D (total income) by 3.3 to get approxamite size mortgage you can afford.

$_____________ (D x 3.3)

$____________ (= E)

F - For home purchases, determine the money you have for down payment

$ _____________

G - Add your amount of potential mortgage to your own payment, to help you asses the home purchase price you can afford.

$_____________ (E + F)



***NOTE - any fixed expenses may reduce the amount you can afford