What can I afford?
- Home
- Why should I consider homeownership?
- How can I achieve homeownership faster?
- How can I make sense of the homebuying process?
- How do I make the most out of the equity in my home?
- How do I plan for unexpected life events?
- Are you new to Canada?
- What products are available to me?
- Case Studies
- National Homeownership Education Week
- Mortgage Quiz
- Education Videos
- Assistance Videos
Before you buy a home, it's essential to figure out what you can actually afford. This simple calculator tells you the price range you can afford, along with the mortgage size your budget can handle. Here's a rule of thumb: your household expenses should not add up to more than 40% of your household income (before taxes).
What are household expenses?
Household expenses typically include:
- Property taxes
- Heating and utility costs
- Mortgage payments
- 50% of condominium fees
- Payments on outstanding loans, leases and credit card balances
What does household income include?
Your household income includes your salary and any other income you declare.
Ask your mortgage professional for a Genworth-insured mortgage today,
or call 1-800-511-8888
or call 1-800-511-8888
