Required Information Estimated Monthly Expenses Mortgage Rate   Property Tax   Down Payment   Strata Fees   Gross Monthly Income   Debt Payments

Conventional ( 75.00 %) Financing Based on your $10,000 Down Payment and Gross Monthly Income of $4,000, the Maximum Home Price is $40,000 under conventional guidelines. Your mortgage will be $30,000 with monthly payments of $160.	Max Home Price $40,000
Mortgage half Strata Fees Property Taxes Other Debts Remaining Income
High Ratio - 5.00 % Down Payment Your $10,000 Down Payment and your Gross Monthly Income of $4,000 results in a Maximum Home Price of $200,000 using 95.00 % High Ratio Financing. Your first mortgage of $190,000 plus the 3.25 % mortgage insurance fee of $6,175 results in a total mortgage of $196,175. Your monthly mortgage payments will be $1,048.	$200,000

Based on your $4,000 MONTHLY INCOME and these DOWN PAYMENT options
	USER Input Interest Rate - See Current Rates - See also 95% rate notes
% Down Payment	25%	20%	15%	10%	5%
Down Payment	$72,072	$53,387	$37,407	$23,438	$10,968
Mortgage	$216,217	$213,548	$211,978	$210,944	$208,402
Max Home Price	$288,289	$266,935	$249,385	$234,382	$219,370
CMHC Insurance Fee	$0	$2,669	$4,239	$5,273	$7,815
Total Mortgage	$216,218	$216,218	$216,218	$216,218	$216,218
Monthly Mtg Pmts	$1,155	$1,155	$1,155	$1,155	$1,155
TOTAL Monthly Pmts	$1,280	$1,280	$1,280	$1,280	$1,280
The maximum house price limits for the 5% downpayment program (less than 10% down) are $300,000 in greater Toronto, Vancouver, Victoria, and Calgary areas - $175,000 to $250,000 in northern areas and in other centres where average house prices tend to be high - and $125,000 everywhere else in Canada.