Affordability
How Much Multiplex Can You Afford?
Enter your financial details to see your maximum purchase price using Canadian mortgage rules, then browse matching properties in Greater Vancouver.
Calculator results are estimates for planning purposes only. They do not constitute mortgage pre-approval or financial advice. Actual qualifying amounts depend on your credit history, lender, and other factors. Consult a licensed mortgage broker for a real pre-approval.
Affordability Calculator
Maximum Purchase Price
$556,800
Rent vs. Own Comparison
Monthly Rent
$3,200
Vancouver avg (2-bed)
Monthly Ownership
$3,191
Mortgage + costs
Owning is $9/mo less than renting - plus you build equity.
Estimates use CMHC's published limits: housing costs up to 39% of income and all debts up to 44%, tested at 7.50% (your rate plus 2 points, or 5.25% if higher). With under 20% down the price must be below $1.5 million, and the premium is added to the loan. Assumes $150 a month for heat, a $350 strata fee with half counted, and property tax of 0.3% of the price a year. The down payment is the cash you put down, after closing costs. Your lender decides.
Properties in Your Budget
0 matchesNo properties match your current budget. Try increasing your income or down payment.
Common Questions About Multiplex Affordability
It depends on your down payment, debts, and mortgage rate, not income alone. For an insured mortgage, CMHC lets your housing costs (mortgage payment, property tax, heat and half of any strata fee) reach 39% of gross income and all your debt payments 44%, tested at your rate plus 2 points or 5.25%, whichever is higher. Use the calculator above with your real numbers to see your maximum purchase price.
For one home you will live in, priced below $1.5 million: 5% of the first $500,000 plus 10% of the rest, according to the Financial Consumer Agency of Canada. At $1.5 million or more, the minimum is 20%.
No. For one home you will live in, priced below $1.5 million, CMHC insures the mortgage with 5% down on the first $500,000 and 10% on the rest. You then pay a CMHC insurance premium, added to the mortgage balance. At $1.5 million or more, the minimum is 20% down.
CMHC insurance protects the lender when your down payment is under 20%, and with less than 20% down you typically need it, according to the Financial Consumer Agency of Canada. The premium is a percentage of your mortgage amount, added to the loan itself rather than paid upfront, so it raises your monthly payment instead of your closing costs.
BC Property Transfer Tax is a one-time tax paid on closing: 1% on the first $200,000, 2% up to $2 million, 3% above that, and a further 2% on a home's value above $3 million. It applies to a multiplex purchase the same as any BC home. First-time buyers pay no tax on the first $500,000 when the home is worth $835,000 or less, with a smaller exemption up to $860,000. A newly built home is fully exempt up to $1,100,000, with a smaller exemption up to $1,150,000.
Some lenders count a share of the rent from units you won't occupy toward your qualifying income, which can raise your maximum purchase price above what your salary alone would support. Rules vary by lender, so confirm the exact percentage they'll count with a mortgage broker before assuming it in your budget.
A longer amortization spreads the same mortgage over more payments, so each monthly payment is smaller and you can qualify for a higher purchase price. Stretching from 25 to 30 years is the difference; the calculator above lets you compare both side by side.
It depends on your down payment, the rate you qualify for, and current rents in the neighbourhood you're comparing. The calculator above compares your estimated monthly ownership cost (mortgage, heating, and half the typical strata estimate) against the average Vancouver two-bedroom rent, using your own numbers.