To make this calculator, we've used a programming language called JavaScript. As such, no information about your personal finances will leave your computer while you are using this service.

The program makes a number of assumptions, and is for illustrative purposes only. We assume that the mortgage rate is fixed until maturity, and that the mortgage rates are compounded semi-annually. The program does not take into account liquidity or transactions costs, such as commissions.

The program does not include mortgage insurance.

The program outputs real dollars. An inflation adjustment is provided for each year as well, representing the actual dollars you would expect to have, for a given inflation rate.

A home purchase is a highly leveraged investment. This means you borrow a lot of cash to make the investment. Individuals can choose to make highly leveraged positions in other investments as well, which may boost returns.

We assume that all dividends or other cash flows are immediately reinvested. When you use the calculator, it's important to be realistic about how much you really would invest.

This program assumes that if you rent, you will save or invest your down payment and subsequently implement at rigorous savings plan.

If you need any assistance using this calculator, please contact the Consumer Connection team at oca.strategis@ic.gc.ca