AFFORDABILITY CALCULATOR FOR BUYING A HOME
Quite affordable.
LATEST LISTINGS IN THE CALGARY AREA
- 1/37 37
3 Beds 3 Baths 1,524 SqFt$549,999New - 1/26 26
3 Beds 3 Baths 1,380 SqFt$569,900New - 1/40 40
2 Beds 3 Baths 1,370 SqFt$699,900New - 1/46 46
4 Beds 4 Baths 1,711 SqFt$649,888New - 1/27 27
1 Bed 1 Bath 608 SqFt$265,000New - 1/44 44
2 Beds 2 Baths 1,621 SqFt$460,000New - 1/4 4
4 Beds 3 Baths 2,471 SqFt$706,990New - 1/11 11
1 Bed 1 Bath 438 SqFt$359,900New 
4 Beds 3 Baths 2,315 SqFt$779,900New
4,571,877 SqFt$20,000,000New- 1/30 30
2 Beds 2 Baths 920 SqFt$289,900New - 1/49 49
4 Beds 4 Baths 2,262 SqFt$850,000New - 1/30 30
3 Beds 4 Baths 1,456 SqFt$549,900New - 1/19 19
3 Beds 3 Baths 1,583 SqFt$443,961New - 1/50 50
2 Beds 2 Baths 1,070 SqFt$458,800New - 1/39 39
1 Bed 2 Baths 1,017 SqFt$294,900New - 1/36 36
2 Beds 2 Baths 803 SqFt$359,999New - 1/29 29
1 Bed 1 Bath 570 SqFt$232,990New - 1/5 5
4 Beds 4 Baths 2,303 SqFt$1,498,400New - 1/29 29
4 Beds 3 Baths 1,269 SqFt$619,900New - 1/35 35
2 Beds 2 Baths 835 SqFt$279,900New - 1/35 35
4 Beds 3 Baths 1,236 SqFt$530,000New - 1/50 50
3 Beds 1 Bath 981 SqFt$1,399,990New - 1/47 47
4 Beds 2 Baths 951 SqFt$1,399,999New - 1/50 50
2 Beds 2 Baths 863 SqFt$460,000New - 1/6 6
4 Beds 4 Baths 1,997 SqFt$709,900New - 1/24 24
1 Bed 1 Bath 590 SqFt$205,000New - 1/25 25
4 Beds 3 Baths 1,685 SqFt$541,587New - 1/48 48
4 Beds 3 Baths 889 SqFt$464,723New - 1/50 50
4 Beds 4 Baths 2,136 SqFt$1,250,000New - 1/6 6
0.43 Acres$1,299,000New - 1/34 34
4 Beds 4 Baths 1,566 SqFt$599,900New - 1/14 14
1,460 SqFt$149,900New - 1/50 50
3 Beds 3 Baths 1,439 SqFt$750,000New - 1/47 47
2 Beds 2 Baths 851 SqFt$389,000New - 1/45 45
2 Beds 1 Bath 991 SqFt$310,000New - 1/50 50
4 Beds 5 Baths 3,370 SqFt$2,299,900New - 1/35 35
2 Beds 2 Baths 907 SqFt$379,900New - 1/33 33
2 Beds 2 Baths 857 SqFt$319,900New - 1/37 37
1 Bed 1 Bath 702 SqFt$209,900New - 1/36 36
3 Beds 2 Baths 1,247 SqFt$340,000New - 1/49 49
4 Beds 5 Baths 3,321 SqFt$2,145,000New - 1/42 42
5,517 SqFt$1,599,000New - 1/50 50
4 Beds 3 Baths 1,414 SqFt$599,900New - 1/10 10
2,810 SqFt$11New - 1/29 29
3 Beds 3 Baths 1,994 SqFt$434,500New - 1/43 43
2 Beds 1 Bath 845 SqFt$280,000New - 1/48 48
4 Beds 4 Baths 2,004 SqFt$750,000New - 1/40 40
3 Beds 4 Baths 1,255 SqFt$415,000New - 1/35 35
3 Beds 2 Baths 914 SqFt$549,000New
Affordability Help
Annual Income
This is the combined annual income for you and your co-borrower. Include all income before taxes, including base salary, commissions, bonuses, overtime, tips, rental income, investment income, alimony, child support, etc.
Down Payment
The typical rule of thumb is to pay 20 percent of the home's price as your down payment, although some mortgage loans require as little as 3.5 percent down. Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be - or the more expensive a house you can buy.
Other Monthly Debts
Include all monthly debt payments for of you and your co-borrower, including: minimum monthly required credit card payments, car payments, student loan payments, alimony/child support payments, any house payments (rent or mortgage) other than the new mortgage you are seeking, rental property maintenance, and other personal loans with periodic payments.
Do NOT include: credit card balances you pay off in full each month, existing house payments (rent or mortgage) that will become obsolete as a result of the new mortgage you're seeking, or the new mortgage you're seeking.
Loan Term
Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and more in the calculator.
Loan Type
There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans. Fixed-rate loans have the same interest rate for the entire duration of the loan. That means your monthly payment will be the same, even for long-term loans, such as 30-year fixed-rate mortgages. Two benefits to this loan type are stability, and being able to calculate your total interest up front. Adjustable-rate mortgages (ARMs) have interest rates that can change over time. Typically they start out at a lower interest rate than a fixed-rate loan, and hold that rate for a set number of years, before changing interest rates from year to year. For example, if you have a 5/1 ARM, you will have the same interest rate for the first 5 years, and then your interest rate will change from year to year. The main benefit of an adjustable-rate loan is starting off with a lower interest rate.
Interest Rate
This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.
Property Tax
The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.
Home Insurance
Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options.
HOA Fees
A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association.
Debt-to-Income (DTI)
Your DTI is expressed as a percentage and is your total "minimum" monthly debt divided by your gross monthly income. The conventional limit for DTI is 36% of your monthly income, but this could be as high as 41% for FHA loans. A DTI of 20% or below is considered excellent.