Are you thinking excitedly about owning your own home and want to find out if you are financially ready to go ahead?
A calculator provided by THE CANADIAN MORTGAGE AND HOUSING CORPORATION (CMHC) can guide you through the simple budget calculations that will help you determine the maximum purchase price for your home.
Just input into the calculator your monthly household expenses that you spend now.
To begin click here.
Into those calculations you will also need to include how your debt. A mortgage lender will ask you for this information to figure out whether you are financially ready to carry a mortgage.
To make a debt summary using a handy form on the CMHC website and to learn more click here.