Conventional ( 75.00 %) Financing Based on your $10,000 Down Payment and Gross Monthly Income of $4,000, the Maximum Home Price is $40,000 under conventional guidelines. Your mortgage will be $30,000 with monthly payments of $268.	Max Home Price $40,000
Mortgage half Condo Fees Property Taxes Other Debts Remaining Income
High Ratio - 7.44 % Down Payment Your 10000 Down Payment and your Gross Monthly Income of 4000 results in a Maximum Home Price of $134,457 using 92.56 % High Ratio Financing. Your first mortgage of $124,457 plus the 3.75 % mortgage insurance fee of $4,667 results in a total mortgage of $129,124. Your monthly mortgage payments will be $1,155.	$134,457

Based on your $4,000 MONTHLY INCOME and these DOWN PAYMENT options
% Down Payment	25%	20%	15%	10%	5%
Down Payment	$43,041	$31,882	$22,339	$13,997	$6,550
Mortgage	$129,124	$127,530	$126,592	$125,974	$124,457
Max Home Price	$172,165	$159,412	$148,931	$139,971	$131,007
CMHC Insurance Fee	$0	$1,594	$2,531	$3,149	$4,667
Total Mortgage	$129,124	$129,124	$129,124	$129,124	$129,124
Monthly Mtg Pmts	$1,155	$1,155	$1,155	$1,155	$1,155
TOTAL Monthly Pmts	$1,280	$1,280	$1,280	$1,280	$1,280
The maximum house price limits for the 5% downpayment program (less than 10% down) are $250,000 in greater Toronto, Vancouver, Victoria, and Calgary areas - $175,000 in northern areas and in other centres where average house prices tend to be high - and $125,000 everywhere else in Canada.