Find out exactly how much house you can afford!

We’re excited to offer a new online tool that can help you make your homebuying dreams a reality.

The new mortgage calculator lets you quickly assess your financial standing to see exactly what you’ll be able to afford once you decide to buy a home.

You will need to answer a few questions, including:

• Your total annual income, before taxes. (If you’re buying with another person, this should include their income, too.)
• How much you have saved for your down payment. (We recommend having at least 5% of the house price.)
• How much you spend on monthly loan repayments, including child support, student loans, personal or car loans, and more.
• Your total amount of credit card debt.
• Your credit health – good, a few late payments, active collections, or a previous bankruptcy.

From there, the calculator will give you an estimate of how much mortgage you could qualify for.

The results are based on the Government of Canada’s mortgage stress test. Access the online mortgage calculator here.

To gain an even more accurate result, you can complete an application and speak to the M.O.S. MortgageOne Solutions Ltd. Team. Contact mortgage agent Michael Goldenberg at 888-890-0888 or mortgages@debtcare.ca for more information.

If you find out that you qualify for less than you hoped, don’t worry! We can also help you manage your finances to see how to qualify for more mortgage. Learn more at www.debtcare.ca.