Post by @jordfinance

How much income do you need to buy a detached house in Canada? 🏠🇨🇦 These estimates use Royal LePage’s forecasted 2026 prices, the minimum down payment, a 25-year amortization, a 6.09% rate, applicable mortgage insurance and a 32% gross-income limit. Vancouver example: $1,610,915 price − $322,183 down payment = $1,288,732 mortgage Estimated payment: $8,375/month ($8,375 × 12) ÷ 32% = approximately $314,000 of annual income needed. Actual qualification depends on your debts, expenses, property taxes and lender. Sources: Royal LePage, Government of Canada and CMHC. Not financial advice.