Office of Consumer Affairs (OCA)
Use this calculator to assess whether you can afford to buy a home based on what you spend on rent each month. Be sure to also read the "Tips" section as there are many things to consider before choosing to buy a home.
Mandatory fields are indicated by an asterisk ( * ).
Check out some other useful Government of Canada interactive tools:
Your savings for a down payment and closing costs.
Enter the amount you can afford for housing costs (including utilities) each month.
Please note that if the value is too high, an adjusted amount will be used to achieve a minimum downpayment of 5% on the house price.
A downpayment of at least 5% of the house price is required.
This calculator estimates the CMHC premium when the down payment is less than 20% of the house price.
Includes heating, hydro, property taxes, etc.
This calculator estimates monthly utilities and property taxes to be 3.00% of the house price.
Includes land transfer taxes, legal fees, etc.
This calculator estimates closing costs to be 3.00% of the house price.