How Much Condo Can You Afford?

 

This unique condo mortgage calculator is really four calculators in one!

  By entering your numbers once, the calculator will help you determine loan amounts, mortgage qualification, affordability and whether you should be renting or buying, all with a click, instantly.

 It is private and secure, only you see it. You can if you wish, even send an e-mail or receive one containing the results, by clicking on Receive This Detailed Analysis!

 By the way, no one, not even I, only you will see the email analysis.

Contact me if you have questions, or if I can assist you in locating a favorable financing alternative for your new home!

I work with some of the best mortgage providers around, my network of lenders are pro's, they know the business, from the Royal Bank of Canada, Scotia Bank , TD Canada Trust, CIBC, Bank of Montreal, Manulife to mortgage brokers..

Ty Lacroix Broker of Record

 

Required Fields
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
Estimate Insurance to 0.43% of Cost
Annual Property Tax:  $  
Estimate Tax to 1.2% of Cost
Monthly Income:  $
Monthly Debt:  $
Optional Fields
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $
Results
  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:  %