How Much Can You Afford?

Royal Bank

Buying a Home

Know What You Can Afford: Before deciding to buy a home, you first need to determine exactly how much you can afford to spend each month; and what additional expenditures you might incur.

Initial Costs Add up

Monthly Costs

Your Net Worth

Average Canadian Housing Prices

Tools and Calculators:

How much can I afford?

Mortgage Calculator

Personal Budget Calculator

The Down Payment: Very few home buyers have the cash available to buy a home outright

What is a Down Payment

Finding the Funds for Your Down Payment

Qualifying for a Mortgage

Using RRSPs to Help: With the federal government's Home Buyers' Plan, you can use up to $20,000 in RSP savings ($40,000 for a couple) to help finance a down payment on a first home.

Mortgage Basics: Besides the actual type of mortgage you select, there are other important characteristics of your mortgage that determine exactly how much you will pay - both monthly and over the life of your mortgage.

Pre-approved Mortgages

Choosing a Mortgage

Your Mortgage Costs

Shave Years Off Your Mortgage

Residential Mortgages

Mortgage Rates

Mortgage Specialist Locator

For extra convenience, fill in a Royal Bank Pre-Approved Mortgage Application online.

Related Topics

	Renovating a Home
	Selling a Home
	Getting Married
	Buying a Car
	More ...

Our calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying.

Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs. To email yourself a copy of the results, click the Receive this Detailed Analysis link.

Required

Required Must be a number between 1 and 50
Term In Years:
Required Must be a number between 1 and 100
Interest Rate:	%
Required
Cost of Home:	$
Required Cannot be more than Cost of Home
Down Payment:	$
Required
Annual Insurance:	$
Estimate Insurance to 0.43%of Cost
Required
Annual Property Tax:	$
Estimate Tax to 1.2%of Cost
Monthly Income:	$	Required
Monthly Debt:	$	Required

Optional

Gross Debt Service Ratio (GDS):
Total Debt Service Ratio (TDS):
Condos Fees:	$

Results

Receive this Detailed Analysis

Mortgage

Qualification

Affordability

Rent vs Buy

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:

" Experience the Real difference "

How Much Can You Afford?

Royal Bank

Announcements

Featured Listings