Mortgage & Home Buying
Plan the home-buying math before a lender makes it feel official.
Start with affordability, compare the mortgage payment, test rent versus buy, then check down payment rules, approval basics, market context, and the housing tasks that come before ownership.
Can I afford to buy?
Affordability is not just the largest mortgage you might qualify for. It is the payment you can live with after taxes, insurance, condo fees, repairs, debt, moving, and normal life.
Mortgage Affordability CalculatorEstimate a realistic home price using income, debts, down payment, rates, taxes, insurance, and debt-service ratios.Open resourceMortgage CalculatorEstimate the monthly payment, base loan, mortgage insurance, and lifetime interest for a purchase price.Open resourceRent vs Buy CalculatorCompare buying with renting and investing the down payment and monthly savings over time.Open resource
Learn the rules before you shop
Minimum down paymentKnow the 5%, 10%, and 20% thresholds before you set a savings target.Open resourceGDS and TDS ratiosUnderstand the housing-cost and total-debt ratios behind many affordability estimates.Open resourceMortgage stress testSee why approval can use a higher qualifying rate than the advertised mortgage rate.Open resourceMortgage approval basicsPrepare for the checks lenders make after a quick affordability estimate.Open resourceClosing costsBudget for land transfer tax, legal fees, title insurance, adjustments, moving, and setup costs.Open resource
Read the market context
Prepare the housing foundation
Housing basics for newcomersUnderstand rental documents, leases, deposits, utilities, insurance, and scams before buying later.Open resourceRenting in CanadaBuild the rental foundation many buyers need before they are ready for a mortgage.Open resourceFirst housing searchPrepare the first practical housing file: proof, references, neighbourhood checks, and viewing notes.Open resourceRental application checklistOrganize documents, references, income proof, and questions before applying for a rental.Open resourceFirst apartment checklistTrack lease review, move-in inspection, utilities, furniture, insurance, and address updates.Open resource
Source notes and limits
Canooq calculators are educational planning tools. Mortgage approval depends on lender rules, income verification, credit, down payment source, property type, appraisal, insurance eligibility, and current market rates. Confirm important decisions with official sources, lenders, brokers, lawyers, and qualified professionals.