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Mortgage Qualifier Calculator

What Size Mortgage Do I Qualify For? How Much Mortgage Can I Afford?

Mortgage Brokers vs Banks

Use this mortgage calculator to determine how much can I afford, what can I afford then add your down payment...from 5% to 20% down.

In today's complex Mortgage borrowing environment ask your Broker to prepare a mortgage analysis and plan with recommendations.

There are now several types of Mortgages and Mortgage borrowing and you may qualify for a much larger home and Mortgage if you work with an independent Mortgage Broker.

Or a smaller home with lower monthly payments if you work with your bank.

Using a Mortgage Broker to analyse and source your mortgage means you could qualify for a much larger loan...

With a $100,000 income and no debt you can qualify for a variable rate mortgage up to:

$550,000 for a 30 year amortisation at 2.49% for monthly payments of  $2,166

$484,618 for a 30 year amortisation at 3.49% for monthly payments of  $2,166

$430,206 for a 30 year amortisation at 4.49% for monthly payments of  $2,166

Using a Bank to source your mortgage means you could qualify for a much smaller loan...

With a $100,000 income and no debt you can qualify for a variable rate mortgage up to

$430,206 for a 30 year amortisation at 4.49% for monthly payments of  $2,166

$384,641 for a 30 year amortisation at 5.49% for monthly payments of  $2,166

$346,2436 for a 30 year amortisation at 6.49% for monthly payments of  $2,166

NOTES: Assuming $4500 property tax and monthly heating of $125 per month, no debts and a credit score above 700. Add your down payment to the mortgage amount to calculate the total home you can afford. Banks have to apply the stress tests.

 

This calculator uses the stress test comparisons so you may think you qualify for less. Call us to really understand just how much you can qualify for. We can usually qualify you for more than you might think.

Click on the 'View Report' button to see the results in detail.

 

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