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Buy Your First Home

Your Step-By-Step Guide to Buying a Home

Step 1

How much can I afford?

Before you even start looking for a home, you need to know exactly how much home you can afford.

Step 2

Planning ahead

Owning a home is a big decision and getting off to a good start can make all the difference.

Step 3

Searching for a home

The process of searching for the perfect home can be both exciting and challenging. Creating a list of items and separating them into two buckets - “must-have” and “nice-to-have”- is a good place to start.

Step 4

Buying a home

Get help with making an offer, paying for closing costs and choosing a mortgage that suits your unique needs.

Step 5

Moving in and Living

Transition into home ownership comfortably with helpful advice on mortgage management and home maintenance.

First-time Home Buyers

help me find a home

Help Me Find a Home

Learn about the real estate process, what to look for in a neighbourhood and setting a budget before house hunting.

Learn More about how we can help you find a home.
understanding the home buying process

Understanding the Home Buying Process

Get help with making an offer, paying for closing costs and choosing a mortgage that suits your unique needs.

Learn More about Understanding the Home Buying Process
welcome to home ownership

Welcome to Home Ownership

Transition into home ownership comfortably with helpful advice for living comfortably in your home.

Learn More about Welcome to Home Ownership

Learn more about the Government of Canada’s new First-Time Home Buyer Incentive

Learn More

How Much Home Can You Afford?



How much home can you afford?

This calculator factors in your total earnings and debts to give you a maximum affordable monthly housing cost, including mortgage payment, property taxes, heating costs and more.

Please enter an income between $1,000 and $1,000,000
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Please enter a down payment between $1,000 and $5,000,000

How much can I comfortably spend on my home purchase?

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My monthly RBC mortgage payment will be...

$0*/month

Talk to a Mortgage Specialist Get Pre-qualified Now

All dollar values have been rounded.
The calculation is based on the accuracy and completeness of the data you have entered, is for illustrative and general information purposes only, and is not intended to provide specific financial or other advice, and should not be relied upon in that regard.
This calculation assumes a constant interest rate throughout the amortization period and the Total Interest Cost is averaged over the life of the mortgage rounded to the nearest dollar. Interest rate compounded half-yearly, not in advance. The mortgage payment amount may vary according to certain variables entered in to the calculator and may not provide the precise dollar amount of your payment. It will give you a general idea of the payment amount based upon the information you have entered. The accelerated bi-weekly payment is equivalent to the monthly payment divided by two and the accelerated weekly payment is equivalent to the monthly payment divided by four.
Royal Bank of Canada uses reasonable efforts to include accurate and up-to-date information in this calculator, but cannot guarantee that all information is accurate, complete or current at all times. You should speak with one of our credit specialists before making a final decision on a mortgage to ensure it meets your overall financial needs.
Royal Bank of Canada does not make any express or implied warranties or representations with respect to any information or results in connection with the calculator. Royal Bank of Canada will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision made by you in reliance on any information or results.
Applicable to residential mortgages only and subject to Royal Bank of Canada standard lending criteria for residential mortgages. Some conditions apply.
In order to be approved for a mortgage, you will need at least 5% of the purchase price as a down payment if your purchase price is within $500,000. If your purchase price is between $500,000 and $1,000,000, your minimum down payment is 5% of the first $500,000 and 10% of the price between $500,000 and $1,000,000. If your purchase price is $1,000,000 or more, your minimum down payment is 20%.

New to Canada?

Learn about common myths and other essential mortgage information for newcomers to Canada.

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Home buying questions

Get answers to the top questions every first time home buyer should ask.

Download the Free Guide

View our Rates

2 year fixed closed

5.840%

5.900% APR

5 year fixed closed

5.540%

5.570% APR

View All Rates

Personal lending products and residential mortgages are offered by Royal Bank of Canada and are subject to its standard lending criteria. Some conditions apply.