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Carol Shalovelo
RE/MAX Vernon
5603 27th Street
Vernon, BC V1T 8Z5
Cell: 250-503-8332
Fax:
Home:
Work Phone: 250-549-4161 x252

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Serving Locally, Marketing Globally

How Much Can You Afford?


Canada mortgage specialists - LendingMaxThis calculator will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying. If you have any questions, please don't hesitate to call me at 250-503-8332.

 

On the left are LendingMax's currently quoted Canadian mortgage rates, to use as a guideline in your calculations. Complete the fields below and click Calculate Now. To email yourself a copy of the results, click the Receive this Detailed Analysis link.


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Required Fields
   
    %
$
$  
$  
Estimate Insurance to of Cost
$  
Estimate Tax to of Cost
$
$
Optional Fields
   
   
$
Results
Receive Detailed Analysis  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:  %