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Maximum Mortgage Calculate the maximum mortgage amount you qualify for based on your income. Fill in the boxes below. If you require assistance, click the "Help" buttons on the right. Click the red "Compute Maximum Mortgage & Payment" button when you are finished.

1. Annual Family Income: 2. Annual Property Taxes: (estimate) 3. Monthly Heating Costs/Condo Fees: (estimate) 4. Minimum Monthly Payments for Loans/Credit Cards: 5. Monthly Secondary Financing Payment: 6. Interest Rate: (view rates)   Maximum Mortgage Monthly Payment 1. Annual Family Income Minimum: $10,000 - Maximum: $1,000,000 Enter your total gross annual family income. You must be able to prove your income, by one or more of: - T-4 slips - Pay stubs - Employment letters - Financial statements - Tax assessment notices - Investment income documentation The proof required may depend on your specific circumstances. Return to Maximum Mortgage Calculator 2. Property Tax Minimum: $100 - Maximum: $50,000 Enter your estimated annual property taxes. These are the taxes for local services, as billed directly by your municipality OR added to your monthly mortgage payment. You may find this amount on a property listing, it may be estimated by the builder, or indicated by the local municipality. If you are pre-qualifying for a mortgage, please estimate the property taxes. Return to Maximum Mortgage Calculator 3. Heat and Condo Fees Minimum: $20 - Maximum: $1500 Enter your total monthly heating costs and half of any applicable monthly condo/maintenance fees. Ask your realtor or your builder to obtain the most likely amount for you, if you are not currently occupying the property. If you are pre-qualifying for a mortgage, please estimate the amount. Return to Maximum Mortgage Calculator 4. Loans/Credit Cards Minimum: $0 - Maximum: $5,000 Enter your minimum monthly payments on loans/credit cards. You should include personal use property lease payments; alimony and any other legally required payments (at this point exclude other mortgages/secured credit lines etc.). Return to Maximum Mortgage Calculator 5. Secondary Financing Payment Minimum: $0 - Maximum: $5,000 Enter the total monthly amount of all existing loans and mortgages that are or will be registered against the property you are financing/buying. For example: a second or third mortgage, a secured line of credit. Do not include the mortgage you are now qualifying for. Return to Maximum Mortgage Calculator 6. Interest Rate Minimum: 2.0 - Maximum: 25.0 Enter the interest rate you would like to use for calculating your payment and amortization schedule. Enter the interest rate in a whole number format. For example: 4.56 NOT .0456 Return to Maximum Mortgage Calculator Information is provided for sample purposes only. Its accuracy is not guaranteed. Information should be verified and should not be relied upon as legal, financial, or other advice. Simona Heather's Personal Office Phone: 416-892-9524 Fax: 905-494-1786 Email Contacts: Simona Heather - Simona@SimonaHeather.com Cary Heather - Cary@SimonaHeather.com Simona Heather's Mortgage Office Verico - The Mortgage Practice 2425 Matheson Blvd. E., 8th Floor Mississauga, ON L4W 5K4 Phone: 905-458-4222 Toll Free: 1-888-458-4222 Toll Free Fax: 1-866-741-8496 Simona Heather's Real Estate Office Absolute Realty 2410 Wasaga Drive Oakville, ON L6H 0B9 Phone: 905-582-3588 © 2012 Simona Heather