Tool
How much house can you afford?
From your income and the share you want to put toward housing, calculate a healthy maximum monthly payment, the loan you can reach and the target home price.
Target home price
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With your maximum monthly payment and that down payment
Maximum monthly payment—
Maximum loan—
Down payment needed—
Assumptions & method
- Maximum monthly payment = income × chosen share (common benchmark: 25–30% of net income toward housing).
- Maximum loan = present value of that monthly payment at the chosen rate and term (amortizing/French method).
- Target price = maximum loan ÷ (1 − down-payment %). It excludes closing costs (~4–8%): calculate the total cash in Down payment and upfront costs.
- Informational guide; banks also assess credit history, job tenure and other debts.
FAQ
The essentials, in brief
Why 28% of income?
It is the classic housing-affordability benchmark: it leaves room for the rest of your expenses and debts. If you have no other debts you can stretch a little; if you're already paying other loans, it's wise to lower the percentage.
Does the result include maintenance and property tax?
No. Budget separately for property tax, maintenance and insurance —a practical rule of thumb is to set aside about 1% of the home's value per year.
What if my down payment is below 20%?
With a smaller down payment you can afford a lower price and the monthly payment weighs more; some banks also charge a higher rate with a low down payment. Try different percentages in the calculator and compare.
Next step
Tell us about your deal
Tell us how much you need and what collateral you can offer. We’ll tell you frankly whether it’s viable and how we’d structure it.
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