Do the math

Avoid becoming overcommitted financially by first figuring out:

• whether you have the means to buy a home
• your personal balance sheet (PDF format, 135 KB)
• how much you can afford to spend on a home
• the mortgage payment you can afford
• start-up costs when you buy a home

Use our mortgage calculator to get an overview of your loan: the amount of the mortgage loan you can afford to borrow, your mortgage payments and the amortization period required to pay your mortgage.

Once you've finished your calculations, your Desjardins advisor may grant you a preauthorized mortgage – your "passport" to buying a home.

The two golden rules of borrowing

• No more than 32% of your gross household income should be spent on housing costs.

• No more than 40% of your gross household income should be committed to repaying debt.