Mortgage Calculator How Much Can I Borrow?

Thinking about buying a home but not sure what price range you should be looking at? You’re not alone. One of the most common questions we get as mortgage brokers is: “How much can I borrow?” That’s where a mortgage calculator comes in especially one that’s tailored for Canadian home buyers.

Whether you’re planning to buy your first condo, upgrade to a larger home, or simply explore your options, understanding what you can afford is step one.

What Is a Mortgage Calculator and Why Should You Use One?

A mortgage calculator helps you estimate how much your monthly mortgage payments will be based on your income, debt, interest rate, and down payment. It’s a quick and easy way to get a sense of what’s realistic before applying.

If you’ve ever typed “mortgage calculator how much can I borrow” or “mortgage calculator what can I afford” into Google, you’re already on the right path. A good calculator takes into account not just your mortgage amount, but also things like property taxes, insurance, and amortization length. Try our Mortgage Calculator to get started.

How Much Can I Afford?

The answer to “how much mortgage do I qualify for” depends on several key factors:

• Your income (gross monthly)
• Monthly debts (car loans, credit cards, student loans)
• Down payment amount
• Interest rate
• Amortization period (e.g. 25 years vs. 30 years)

Our calculator helps break all of this down for you, giving you an estimated loan amount and monthly payment. Keep in mind, pre-approvals from lenders will verify this, but it’s a great starting point.

Can You Pay Off a Mortgage Faster?

Wondering how to pay off a mortgage in 5 years? Use a calculator that lets you model accelerated payments. By increasing your monthly payments or making lump-sum contributions, you can reduce interest and be mortgage-free years earlier.

Here’s how:

• Choose bi-weekly payments instead of monthly
• Add extra payments annually (some lenders allow up to 15–20%)
• Keep your payments the same even if interest rates drop

Try out different scenarios using our calculator to see what works best for your budget and goals.

Why Work With a Mortgage Broker?

A calculator is a great starting tool, but it can’t replace professional advice. At Niche Mortgages, we go beyond the numbers. We look at your entire financial picture and help you find a solution that fits—not just today, but for the long haul.

• Want to know how much mortgage you qualify for?
• Curious whether you should choose a fixed or variable rate?

We’ll walk you through all of it—no pressure, no guesswork.

Know Before You Borrow

Before you fall in love with a property, it helps to know what you can afford. Our mortgage payment calculator makes it simple to estimate your loan and monthly payments, whether you’re buying in Vancouver, Richmond, or anywhere in Canada.

Ready to take the next step? Use our mortgage calculator and reach out for personalized advice. We’re here to help you make confident, informed choices.