Mortgage Info.

How Much Money Can I Get?

As a first time buyer, who has never owned property in the province of Ontario, you can buy a house with as little as 5% down payment.

For mortgages with anything less than 25% less than, C.M.H.C. will need to insure the money coming from your bank or trust company. There is a small cost for doing this.


  • Mortgage amount of 95%, the premium is 3.75%.
  • Mortgage amounts of 90%, the premium is 2.5% of the value of the mortgage.

Mortgage Calculator

It is added directly to the mortgage amount and is calculated into your monthly payment. To estimate basic mortgage payments, click on the calculator below. When your finished simply close the browser window and you are back at out site.

How much house can we afford?

This is the question almost every first-time home buyer asks. That's why we've included a few simple calculations below to help you estimate the maximum home price you may be able to afford. Whether you are buying a home for the first time or tenth, it's nice to know how much you can afford to spend before you start shopping. Use this handy guide to estimate your mortgage requirements.


Determine your total income:  
Your annual salary (before tax): $___________
Your spouse annual salary: $___________
Additional sources of income: $___________
Total Income: $___________


Multiply your income by 2.25

Total Income: $___________ x 2.25 = $___________

This represents the maximum mortgage you will be able to support.


Calculate your maximum Price:  
Mortgage Amount (from Step 2) $____________
Down Payment Available $____________

TOTAL Purchase Price $____________

Mortgage Rates can change on a daily basis.

If you have any questions on Mortgages or Buying a home
E-mail Us.

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