Ontario Home Affordability Calculator
How Much House Can I Afford?
Your income = your home price.
Most people house-hunt from the wrong end — they fall for a home first, then find out what they can borrow. This flips it around. Put in your income, your down payment and a few details, and you'll see the home price range that actually fits — before you start looking. It's built for Ontario buyers, so it uses our mortgage insurance rules and costs.
Enter your numbers below to see your range.
Common Questions
How Much House Can I Afford? Your Questions, Answered
The calculator gives you a starting number. Here are the questions I hear most from Ontario buyers — with straight answers.
How much house can I afford on my income?
It depends on more than your salary — your down payment, your other monthly debts and today's interest rates all move the number. Lenders look at how much of your income your housing costs would take up. The calculator above does that math and shows you a price range; a lender confirms the exact figure with a pre-approval.
What price of home can I buy if I make $75,000 a year?
There's no single answer — two people earning $75,000 can qualify for very different amounts depending on their down payment and existing debts. Put your own numbers into the calculator above and it will show your range. That's exactly what it was built for.
How does my down payment change what I can afford?
A larger down payment usually lets you buy a higher-priced home, and once you reach 20% down you no longer pay mortgage default insurance, which lowers your costs. A smaller down payment can still work — it just changes the numbers. Try a few amounts in the calculator to see the difference.
Do I need mortgage insurance in Canada?
In Canada, if your down payment is less than 20% of the purchase price, mortgage default insurance (often called CMHC insurance) is required and added to your mortgage. At 20% down or more, it's not. The calculator factors this in, so your range already reflects it.
This is an estimate based on the numbers you enter. Your lender confirms what you actually qualify for.
The number is your starting point. I'll help you find the home behind it.
Serving Peterborough County, Northumberland (Cobourg, Port Hope), Durham Region (Port Perry, Scugog, Uxbridge), Kawartha Lakes and Georgina.