$539,500
within budget2 bed · 2 bath · 1,007 sqft
50 GRAND Avenue S Unit# 1311
Downtown Galt · Cambridge
Buying
Find out what you can actually afford.
Use real Canadian mortgage rules to calculate your buying power, then browse Waterloo Region homes that fit your budget.
No credit card · free · Canadian mortgage rules · real listings
Sample result · $115,000 household income, $100,000 down
Your buying power
$556,000
- Based on Canadian stress test rules
- Includes property tax and heat
- Shows homes you actually qualify for
Real Canadian rules
The mortgage stress test, GDS/TDS limits and CMHC tiers, with a live rate.
Homes within your budget
Filter the region's listings to only what you actually qualify for.
True costs included
Closing costs, Ontario land transfer tax, CMHC premium, legal fees.
Explore future value
Project any home on its neighbourhood's actual appreciation history.
See real homes within your buying power
A few current examples under the sample budget of $556,000 in Waterloo Region. An account runs this on your numbers and can filter every search to affordable-only.
Buying questions, answered with today's numbers
- How much house can I afford in Ontario?
- Lenders cap your housing costs at 39% of gross income (GDS) and total debts at 44% (TDS), tested at the stress-test rate rather than your contract rate. A household earning $115,000 with $100,000 down and $500/mo in debts qualifies for about $556,000 today.
- What is the mortgage stress test?
- You must qualify at the higher of your contract rate plus 2% or 5.25%. At today's 4.19% contract rate, that means proving you could carry the mortgage at 6.19%.
- How much down payment do I need in Ontario?
- 5% on the first $500,000, 10% on the portion above it up to $1.5M, and a full 20% for homes of $1M or more. Below 20% down, CMHC insurance is added to the mortgage.
- What extra costs do first-time home buyers pay?
- Ontario land transfer tax (first-time buyers get a rebate of up to $4,000), legal and title fees, and the CMHC premium if your down payment is under 20%. A free account includes a purchase calculator that totals your real cash-to-close.