Mortgage Calculator

What can I afford?

The more financial flexibility you have, the easier it is to strike the right balance between owning your own condo or townhome and independent living. You will need to estimate your income, expenses, investments, savings, and debt to determine what would be an appropriate mortgage for you. You can use our Mortgage Calculator below to estimate your monthly mortgage payments at today's interest rates.

Resources for First-Time Home Buyers

30 Year Mortgages

30 Year Mortgages allows buyers to take out 30-year loads when they purchase newly-built homes, bringing down your monthly payments. Effective Aug 1, 2024.

Home Buyers Plan

First-time home buyers may now withdraw up to $60,0000 from their registered retirement savings plans (RRSP) tax-free, increased 2024 from $35,000, to buy your first home. You have 15 years to repay the amount withdrawn.

The First Home Savings Account (FHSA)

A savings account that allows eligible first-time buyers to save up to $40,000 tax-free to buy a home, with an annual contribution limit of $8,000.

Tax Exemption

British Columbia residents may benefit in the Property Transfer Tax exemption for new homes up to $1,100,000. Qualifying buyers may be eligible for either a full or partial exemption. 

Mortgage Solutions

Carrington Communities is proud to partner with Ownest Financial and present you with an online mortgage application process you can complete from the comfort of your own home or in our sales centre. Home of the Mortgage Matchmaker, Ownest runs your application against 128 lenders and over 22,000 mortgage products, presenting you with a few solutions that best match your financial and lifestyle needs.

Ownest Financial

Mortgage Calculator

This mortgage calculator is to be used only to estimate your mortgage payments. It does not include potential CMHC insurance fees, legal or closing fees and should not replace sound financial advice from a financial professional.