Mortgage affordability calculator
Calculate your home buying power.
When buying a home, the first step is knowing what you can afford. Ease the stress and have more confidence when making offers by using our mortgage affordability calculator to get an estimate and connecting with us for a pre-approval.
Member Preferred Rates
Exclusive mortgage savings for Vancity members.
Get a member preferred rate on eligible mortgages, including 3.42% on a 5-year variable mortgage. Plus up to $5,800 in value with your new mortgage. Terms and conditions apply. Offer is valid until August 14, 2026
* You must qualify for a mortgage using a minimum qualifying rate set by the federal government to show you’ll be able to afford payments at an interest rate typically higher than the actual rate of your mortgage contract. As of Dec. 12, 2023, this minimum qualifying rate is either 5.25% or your interest rate plus 2%, whichever is higher.
To get a better estimate of what you could qualify for when using the Affordability calculator, complete your calculation and select the “Stress Test Rate” option if available or by using “enter your own rate” and adding 2%. The calculation assumes a constant interest at a fixed rate throughout the amortization period
These calculators are based on the data you have entered and for illustration purposes only. Any examples are hypothetical. The calculator is not an advertisement for any particular mortgage loan product, nor is it a part of the loan approval process. The applicability and accuracy of the calculations are not guaranteed. The calculator makes a number of assumptions that may or may not be correct or true in your particular circumstances. Vancity does not make any express or implied warranties or representations with respect to any information or results in connection with this calculator. Vancity will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you relying on any information or results. Actual mortgage rates may fluctuate and are subject to change at any time without notice. Mortgage prepayments may be subject to a prepayment charge. You may qualify for a larger mortgage amount based on other sources of income such as rental income. For mortgage approval you will typically need at least 5% of the purchase price as a down payment. Mortgage default insurance is mandatory for down payments between 5% and 19.99% of the purchase price. The calculator is for residential properties and mortgages. Additional conditions may apply. Please speak to one of our mortgage specialists to obtain a more detailed assessment of what mortgage products will work best for you.