{"id":57468,"date":"2021-03-29T15:19:00","date_gmt":"2021-03-29T15:19:00","guid":{"rendered":""},"modified":"2026-04-23T13:29:31","modified_gmt":"2026-04-23T17:29:31","slug":"mortgage-101-see-how-much-home-you-could-afford","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/mortgage-101-see-how-much-home-you-could-afford\/","title":{"rendered":"Mortgage 101: See How Much Home You Could Afford"},"content":{"rendered":"\n
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When it comes to life’s milestones, buying your first home is definitely one of the biggest. It’s exciting, overwhelming and a little terrifying all at the same time. That’s why it’s important to break it down into bite-size pieces \u2013 here, we outline the first phase of home ownership into three steps.<\/p>\n\n\n\n

Step 1: Answer a few quick questions to prequalify<\/h2>\n\n\n\n

Like with any big purchase, you need to know what your budget is before you go out and buy. You’re not going to spend time looking at cars that are way outside your price range \u2026 Why spend the day at a luxury sports car dealership if your budget calls for a reliable compact?<\/p>\n\n\n\n

The same goes with buying a home. Without a clear idea of how much you can afford, you don’t know if that dream house in the country is within reach today, or if you should be looking at a smaller home to start with. <\/b><\/p>\n\n\n\n

This is where getting prequalified for a mortgage can really help, as it can give you a personalized estimate of how much you may be able to afford. By answering a few quick questions about your income, debts and expenses, you can set a realistic price range and start your search with a budget in mind.<\/p>\n\n\n\n

Try the RBC True House Affordability tool<\/a>*<\/sup> and get prequalified in just 60 seconds.<\/p>\n\n\n\n

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