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 $161.	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 $1,053.	$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	$71,705	$53,115	$37,217	$23,318	$10,912
Mortgage	$215,116	$212,460	$210,898	$209,869	$207,341
Max Home Price	$286,821	$265,575	$248,115	$233,187	$218,253
CMHC Insurance Fee	$0	$2,655	$4,217	$5,246	$7,775
Total Mortgage	$215,117	$215,117	$215,117	$215,117	$215,117
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.