Mortgage Calculators

Rent vs. Buy Calculator

Enter Your Scenario Details

Expected Number of Years in Property *

10 Years

Current Monthly Rent ($) *

Purchase Price ($) *

Down Payment ($) *

Down Payment (%)

Amortization (Years) *

Mortgage Rate (%) *

Ongoing Monthly Costs

Property Taxes ($/yr) *

Home Insurance ($/mo) *

Maintenance ($/mo)

One-time Costs & Appreciation

Closing Costs ($)

Selling Costs (%)

Expected Annual Home Appreciation (%) *

Net Position Over Time

The Verdict

* Based on the assumptions entered.

At End of Year 10

Renting Buying

Purchase Price - $0

Down Payment - $0

Base Mortgage Amount - $0

Mortgage Insurance Premium - $0 (0.00%)

Total Mortgage Amount - $0

Monthly Payment $0 $0

Total Sunk Costs $0 $0

Estimated Home Value - $0

Mortgage Balance - $0

Home Equity (After Selling Costs) - $0

Investment Portfolio Value $0 -

ESTIMATED NET POSITION $0 $0

Your Results

What Your Results Mean

Buying Capacity

Understand the approximate property range that aligns with your financial profile.

Buying Capacity

Estimate monthly mortgage obligations before making a purchase decision.

Financial Readiness

Identify whether your current financial structure supports your homeownership goals.

Planning Clarity

Reduce uncertainty before starting conversations with lenders or agents.

Disclaimer: These calculators provide estimates for general information only. Results are based solely on the information and assumptions entered and do not constitute mortgage approval, a commitment to lend, financial advice or legal advice. Mortgage qualification, interest rates, payments, insurance premiums, rental-income treatment and lending requirements may vary by lender, mortgage insurer, property, borrower and province. Final approval is subject to verification of income, credit, down payment, property value and lender requirements. Please speak with a licensed mortgage professional for an accurate assessment.

FAQ’s

Frequently Asked
Questions

View All FAQs

Can I get approved if I’ve been declined before?

Yes, many applications are declined due to poor structuring, not eligibility. With the right approach and lender match, approvals are often still possible.

How do I know how much I can afford?

Your affordability depends on factors such as income, existing debts, credit history, down payment, and current interest rates. We'll help you determine your borrowing capacity and recommend a mortgage that fits comfortably within your budget.

I’m self-employed, can I still qualify for a mortgage?

Absolutely. Self-employed borrowers often have more financing options than they realize. We work with lenders who understand diverse income structures and can help secure mortgage solutions tailored to your financial profile.

Do you only help with finding the lowest rates?

Not at all. While competitive rates are important, we focus on finding the mortgage solution that best aligns with your financial goals, flexibility needs, repayment plans, and long-term objectives.

Rent vs. Buy Calculator