PRE-QUALIFICATION

How much can I borrow?

Estimate your maximum loan amount in two minutes

Pre-qualify for your mortgage

Your Income

Note your gross income; which is your income before taxes.

Main source of income:

Gross

Down Payment

The amount of your down payment has a direct impact on the property value that you can target.

Financial Commitments

In order to come up with an amount that reflects your reality, consideration of your financial engagements is required.

Fixed monthly payments

Monthly

Line of credit and/or credit cards

Total balance

Mortgage

enter $0 if current property is sold.

Total balance

Home expenses

Being a homeowner comes with expenses other than mortgage payments. Don’t forget to consider them!

Yearly

Monthly

Your Results

You can buy a house of:

354,056.38 $

Once you entered your values, click on “Calculate” to get your Borrowing Capacity.

Down payment: 20,000.00 $

Maximum mortgage amount: 334,056.38 $

Monthly payments: 1,545.13 $

The data generated from this tool are for estimation purposes only. They do not in any way constitute a legal or contractual obligation to National Bank. Financing approval remains subject to credit approval by National Bank.

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*For a limited time. Please refer to the terms and conditions of each promotion.

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Pro tip!

Open an FHSA and start saving towards a down payment or other fees related to buying your first property.

Pre-qualification or pre-approval?

What’s the difference between the two? Pre-qualification gives you an overview of your borrowing capacity, while pre-approval guarantees your financing and protects your rate for 90 days, without committing to a loan. Put yourself in a good position to negotiate and purchase a home by requesting a pre-approval now.

Read the details

Pre-qualification:

Allows you to estimate your borrowing capacity and indicates the price range of properties that are within your means
Does not commit you to taking out a loan

Protects you from an interest rate increase for 90 days
Shows sellers and real estate brokers the seriousness of the steps you’re taking

Get a pre-qualification

Pre-approval:

Guarantees your borrowing capacity and indicates the price range of properties that are within your means
Does not commit you to taking out a loan
Protects you from an interest rate increase for 90 days
Shows sellers and real estate brokers the seriousness of the steps you’re taking

Get a pre-approval

Make an appointment

Do your calculations

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Calculating your monthly payments

Determine how much you can repay each month based on your budget.

Calculate my payments

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Rent or buy?

Find out if it's more profitable for you to buy or rent.

Take the test

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Accelerated payments

Pay off your mortgage faster with flexible payments or by using your credit card reward points.

Discover the possibilities

Little details that matter

The first step in buying a property is knowing the price range within your means. You can get an estimate for this amount through a mortgage pre-qualification, or for more certainty, a mortgage pre-approval.

A mortgage pre-qualification is a rough estimate of your borrowing capacity to purchase a property. It’s calculated based on your basic financial information such as your income and current debt. No credit check is involved, nor is it a guarantee of the approved financing which you may receive by National Bank.

A mortgage pre-approval certifies your borrowing capacity based on several criteria including your credit rating. It confirms the amount that National Bank agrees to lend you under certain conditions and protects the rate of this loan against potential rises for 90 days. A pre-approval demonstrates your seriousness to sellers and your real estate agent and does not impose any obligation for you to commit to the loan.

Start your pre-approval request online now. Our mortgage experts will then contact you to finalize your request.

^TMSagen is a trademark of Genworth Financial Canada, the mortgage insurance company.

^TMCanada Guaranty is a trademark of Canada Guaranty Mortgage Insurance Company.