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 $153.	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 $1,000.	$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	$75,507	$55,931	$39,190	$24,555	$11,491
Mortgage	$226,521	$223,725	$222,080	$220,996	$218,334
Max Home Price	$302,028	$279,656	$261,270	$245,551	$229,825
CMHC Insurance Fee	$0	$2,796	$4,441	$5,524	$8,187
Total Mortgage	$226,522	$226,522	$226,522	$226,522	$226,522
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.