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.

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