Find Your True Buying Power with Pegasus’s Mortgage Affordability Calculator
For many Canadians, buying a home isn’t just about fulfilling a dream, it’s about understanding what’s truly affordable. With home prices fluctuating from Vancouver’s sky-high markets to Halifax’s growing neighborhoods, figuring out how much you can comfortably spend has never been more important.
That’s where Pegasus’s Mortgage Affordability Calculator comes in. Designed specifically for Canadians, this tool helps you understand your realistic buying power before you start house hunting, so you can make confident, data-driven decisions.
Why Home Affordability Varies Across Canada
Home affordability looks different from coast to coast.
In Toronto or Vancouver, average home prices often exceed $1 million, while in Winnipeg, Edmonton, or Halifax, you can still find quality homes for under $500,000.
However, your home price is only a part of the story. Your income, existing debts, property taxes, and even utility costs all affect your true affordability. That’s why relying on a simple “30% of income” rule doesn’t always work.
Instead, a mortgage affordability calculator gives you a precise, personalized picture.
Step 1: Start with Pegasus’s Mortgage Affordability Calculator
Before browsing listings, use Pegasus’s Mortgage Affordability Calculator to estimate what you can actually afford.
Just enter your income, monthly debts, and expected down payment, and you’ll instantly see how different loan terms, rates, and amortization periods change your budget.
For example:
| Annual Income | Debt Level | Estimated Home Affordability |
| $100,000 (low debt) | Minimal | $650,000 – $700,000 |
| $100,000 (higher debt) | Moderate | $550,000 – $575,000 |
Instead of guessing, you’ll gain clarity and confidence, knowing your numbers before speaking with a lender or agent.
Step 2: Calculate Your Down Payment
Once you’ve used the mortgage affordability calculator, your next step is understanding how your down payment affects what you can buy.
In Canada, the minimum down payment depends on your home’s price:
- 5% for homes under $500,000
- 10% for the portion between $500,000 and $999,999
- 20% for homes $1 million or more
For example, a $700,000 home requires a minimum $45,000 down payment. Increasing that amount reduces your mortgage insurance premium and monthly payments.
Pegasus’s Down Payment Calculator helps you visualize how saving more changes your affordability.
Step 3: Account for Hidden Homeownership Costs
Your mortgage affordability isn’t just about the loan. Many Canadians underestimate ongoing expenses such as:
- Property taxes
- Utilities and energy costs
- Home insurance
- Maintenance and repairs
- Condo fees (if applicable)
Pegasus’s Mortgage Budget Tool includes these extra costs so you can plan ahead and avoid becoming “house poor.”
Step 4: Real Examples — How Canadians Use Pegasus’s Tools
Scenario 1: The First-Time Buyer
Sarah and Mark earn a combined income of $120,000 with $20,000 saved for a down payment.
Using Pegasus’s Mortgage Affordability Calculator, they learn they can afford a $600,000 home in Calgary. The Down Payment Calculator then shows that saving another $10,000 could reduce their insurance cost by nearly $8,000, a smart long-term decision.
Scenario 2: The Upgrader
David owns a condo but wants to upgrade to a detached home. After using the mortgage affordability calculator, he discovers that selling his condo gives him enough equity for a 20% down payment on an $850,000 home in Ottawa, comfortably within his budget.
Why Pegasus’s Mortgage Affordability Calculator Stands Out
Many online calculators exist, but Pegasus’s suite is built for Canadian realities, not U.S. markets or generic assumptions.
Here’s what makes it different:
- Uses current Canadian mortgage rate benchmarks
- Includes CMHC insurance and regional tax rules
- Integrates local affordability data
- Designed for both first-time and repeat buyers
And best of all? Pegasus doesn’t just show numbers, it helps you take the next step with expert advisors who can turn your calculations into real mortgage approvals.
Final Thoughts: Take Control of Your Home-Buying Journey
In today’s unpredictable market, the key to confident home buying is knowing your numbers.
With Pegasus’s Mortgage Affordability Calculator, you can clearly see what fits your budget, avoid financial surprises, and start your home search with certainty.
Whether you’re shopping in Toronto, Edmonton, or Halifax, the right tools make all the difference.