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Most calculators start from a price; this one starts from what you can afford monthly. Enter what you can put toward a mortgage payment each month and the calculator works backwards — the largest loan that budget carries at the rate you enter, the price that loan plus your down payment buys, and the CMHC minimum down payment at that price.
Derived from the same semi-annual-compounding mortgage math as the mortgage calculator; down payment rules verified 2026-10-07 from CMHC. Your lender qualifies you on gross debt-service ratios too — this estimate does not. Estimates only — not financial advice.
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This affordability estimate is generic — a real pre-approval conversation covers rates, GDS ratios and the programs you qualify for. Ask directly; we reply within 24 hours.
It inverts the mortgage payment formula: given a monthly budget, rate and amortization, it finds the largest loan those payments support, adds your down payment, and shows the approximate price that buys.
No. Lenders apply gross and total debt-service ratio limits and a stress test. Use this as a starting point, then get pre-approved before shopping seriously.
The tool prints the CMHC minimum down payment for the estimated price — 5% up to and including $500,000, then 5%/10% split up to the $1,500,000 insured cap, 20% beyond.
No — it is only the point where mortgage loan insurance stops being available. Many buyers put down more than the minimum to avoid the premium.
No — estimates only, not financial advice. Rates and qualification come from your lender.