How Much Can I Afford?

 

I often talk to condo buyers who are interested in buying a Square One condo in Mississauga and I get asked the following questions – “How much can I afford in mortgages?”, “What kind of income is required to purchase a Mississauga condo?” or “How do you calculate my maximum allowed monthly payment?” . This calculator is a great starting point for anyone with such questions. Please keep in mind that the below calculation is very simplified and often it is possible to qualify for higher amounts than the ones specified below. I suggest to contact me directly and we can discuss your options.

 

Enter in the following information and click Calculate.

Note: This calculation is based on a 25 year amortization schedule. A longer amortization will positively affect the affordability of a property.


Annual Family Income:
Annual Property Taxes: (estimate)
Monthly Heating Costs/Condo Fees: (estimate)
Minimum Monthly Payments for Loans/Credit Cards:
Monthly Secondary Financing Payment:
Interest Rate:
Maximum Mortgage:     
Monthly Payment:     
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