A Mortgage Calculator can help:
When shopping for a new home in Vancouver, the first step is to figure out how much you can afford. Affordability is based on the household income of the applicants purchasing the house, the personal monthly expenses of those applicants (car payments, credit expenses, etc.), and the expenses associated with owning a home (property taxes, condo fees, and heating costs). The calculator below will show you the maximum purchase price that you can afford.
You also need to determine if you have enough cash resources to purchase a home. The cash required is derived from the down payment put towards the purchase price, as well as the closing costs that must be incurred to complete the purchase.
How much can you afford?
Buying a home usually means getting obtaining a mortgage loan. You will find a useful mortgage calculator below that will give you the monthly payments that you could expect given your particular financing situation.
Understanding the numbers and what you can afford...
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