| Metric | Healthy Range | Caution Zone |
|---|---|---|
| Housing cost as % of gross income | Under 32% | Over 40% |
| Down payment as % of price | 10–20% | Under 7% (high CMHC premium) |
| Closing cost reserve | 3–4% of price | Under 2% |
| Emergency fund (after purchase) | 3–6 months expenses | Under 1 month |
| Maintenance reserve (annual) | 1% of home value | Under 0.5% |
Fill in your actual current balances and estimates, then click Calculate. The worksheet shows your total available funds, total cash needed at purchase, and whether you have a surplus or shortfall. It also shows your projected monthly housing cost as a percentage of your gross income — one of the key metrics lenders use to assess affordability.
A housing cost ratio over 32% of gross income may cause difficulty qualifying for a mortgage. Over 40% creates financial stress risk. If you're in the caution zone, consider: a smaller purchase price, larger down payment, or waiting to accumulate more savings through your FHSA.
While you're building your down payment through the FHSA and RRSP HBP, make sure your everyday banking has zero fees. KOHO saves you $200+ per year in bank fees — money that goes straight toward your home purchase. Use code 45ET55JSYA for a bonus.
Get KOHO Free — Use Code 45ET55JSYARelated: Closing Costs Calculator | FHSA Calculator | Home Buyer Checklist