The Canadian Mortgage and Housing Corporation (CMHC) has useful tools for homebuyers to get a better understanding of the housing market.
Some homebuying tools the CMHC has includes the Debt Service Calculator which gives homebuyers the opportunity to evaluate their current financial situation in order to determine how much they can comfortably afford to spend on a mortgage. Another tool is the Mortgage Payment Calculator that calculates the mortgage amounts and their frequency. For a look at more tools, click here.
This mobile app put out by the CMHC allows homebuyers, especially first-time homebuyers, to make informed choices during the homebuying process. This is available to iOS, Android and Blackberry.
This resource provides information for newcomers in regards to renting or purchasing a home in Canada.
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