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Easy-to-Use Mortgage Calculator

You’re ready to purchase a new home—congratulations! The first exciting step on the road to homeownership is to determine how much mortgage you can afford. If that sounds complicated—don’t fret! We’ve developed a user-friendly mortgage affordability calculator tool to help you do just that, all in a few easy clicks.

Following industry guidelines, this tool will instantaneously estimate your maximum purchase price based on your income, routine expenses, and property fees.

Learn more about Mortgage Alliance - Shoreline Mortgages, Inc.

How Does It Work?

The application will calculate two essential ratios: your Gross Debt Service (GDS) ratio and your Total Debt Service (TDS) ratio. These ratios are the primary resources used by the Canada Mortgage and Housing Corporation to determine your mortgage affordability.

The calculator will also generate a down payment estimate, and account for potential closing costs, too. This is useful in determining the amount of cash you’ll need to put aside for your new purchase.

Make your results even more accurate by adjusting your location and property type!

How to Use Our Mortgage Affordability Calculator?

Ready to get started? Simply input your annual income, debt payments, and property costs into the appropriate spaces below. Then, click go! It’s as easy as that.

Try Our Mortgage Amortization Calculator

How long will your mortgage take to pay off? The length of time required to pay off a mortgage in full is called an amortization period. Amortization periods vary depending on the size of your down payment and the amount of your regular contributions. Compare scenarios with ease using our state-of-the-art amortization calculator below.

Typically, shorter amortization periods have lower interest rates but require higher principal payments. A longer amortization period will have lower monthly payments but higher interest overall. Not sure which is best for you? No problem. Our mortgage payment calculator will simulate and help you assess all your options.

Enter in your desired type and term of mortgage, as well as your payment frequency and balance. Finally, enter the interest rate of your choice. Then, click calculate to view your payment plan!

Discover the Benefits of Using a Mortgage Calculator

Buying a house is no simple task, nor is it a small investment. A mortgage calculator can help you navigate this significant purchase process with ease. There are many advantages to utilizing our mortgage calculator, let’s explore just a few.

Saving Money

Our mortgage calculator helps you determine the variables when applying for a mortgage, including down payment, amortization, and interest rates. These variables will help you understand which mortgage options are most valuable for you and your finances in the long run.


Using a mortgage calculator will help you develop a better understanding of how different mortgages work and which plan would best suit your needs. You will learn about repayment periods and maximum interest rates to better negotiate the terms and conditions of your agreement.

Save Time

While we suggest consulting with a mortgage broker before finding the right loan, a mortgage calculator will allow you to quickly estimate your borrowing capacity and evaluate different scenarios before you meet with your representative, saving you time and hassle.

Budget Planning

Anticipating the kind of mortgage you can afford can help you budget for your new home. Determining how much you can afford to borrow will indicate how much you will be able to pay for your home, and what housing markets you’ll be able to explore.

If the home you’re interested in is out of budget, a mortgage calculator will indicate how much money you will need to earn and save to purchase your dream home.

Calculating your mortgage is the best first step when buying a home, so why wait? Get started by using our mortgage calculator today!

What Our Calculator Can Tell You About Your Mortgage

A mortgage calculator does a lot more than simply tell you what you can and cannot afford. Mortgage calculators work to:

  • Calculate your borrowing capacity based on your:
    • Assets
    • Liabilities
    • Income
    • Expenses
    • Debts
  • Calculate the effect of depreciation on your payments over time
  • Calculate the cost of your loan at the end of the term
  • Calculate the amounts of your premium
  • Calculate additional fees if your wish to repay your loan more quickly

If you want to learn more about how a mortgage calculation could benefit your unique situation, please reach our experts. We will be happy to discuss your investment plan and make relevant recommendations.

Contact Our Mortgage Experts to Learn More

Our mortgage rates calculator, affordability calculator, and payment calculator are all available through our website. If you need help reading the results of your calculation or discussing your qualifications in more detail, please don’t hesitate to reach out to us. We would be happy to walk you through the numbers and understand what kind of loan you are eligible for, how long you’d be repaying your mortgage, and what type of home you could afford to buy.

Our brokers are looking forward to helping you purchase your dream home. Contact us by phone or email to crunch some numbers and get started today!