Dominion Lending Centres Integrity Financing | Brokerage Licence #10933
Each Office Independently Owned & Operated FR
Free Tool

How Much Home Can You Afford? - First-Time Buyer Calculator

Find out your buying power in 60 seconds. No credit check required.

Current Rates — Insured Mortgages

Updated 2026-04-06
3-Year Fixed 4.34%
5-Year Fixed 4.39%
5-Year Variable ? 3.7%
The variable rate is calculated as the lender's prime rate (currently 4.45%) plus or minus a lender adjustment. Your variable rate can change with each Bank of Canada announcement.

Does this rate apply to your situation? Book 15 minutes to find out.

Rates subject to change at any time without notice. These rates are for insured mortgages (down payment under 20%). Confirm your rate.

This tool provides estimates for informational purposes only. Actual rates and results depend on your specific situation. Rates last updated 2026-04-06. Rates are subject to change at any time.

Buying Your First Home in Ontario

The biggest question every first-time buyer has is “how much can I actually afford?” This calculator gives you a clear answer based on the same formulas lenders use - including Canada’s mortgage stress test.

How the Stress Test Works

You must qualify at the higher of your actual rate plus 2% or the floor rate (currently 5.25%). This means your max purchase price is based on a higher rate than you’ll actually pay.

Down Payment Basics

Minimum 5% for homes up to $500K. 10% for the portion between $500K and $1,499,999. 20% for homes $1.5M+. Under 20% means you’ll pay CMHC insurance (added to your balance).

First-Time Home Buyer Programs

You may qualify for the Home Buyers’ Plan (up to $60,000 from RRSP tax-free), the First Home Savings Account (FHSA), and provincial land transfer tax rebates. I’ll explain which apply during our call.