Trade-Up Affordability Calculator
See roughly what your next home could cost when you put your current home's equity to work alongside your income.
Trade-Up Affordability Calculator
Roughly what your next home could cost, using your equity plus your income
Not sure? Run the Net Proceeds Calculator first to get this number.
Cash you can add on top of your equity, for down payment and closing costs.
Car loans, credit cards, lines of credit, support payments.
Your expected contract rate. We qualify your mortgage at the federal stress-test rate (7.25%), which is the higher of your rate plus 2% or 5.25%.
Approximate Next-Home Price
$687,000
$270,000 down (39%) plus $417,000 mortgage
This calculator is an educational estimate only and does not constitute mortgage advice or a pre-approval. It qualifies your mortgage at the stress-test rate over a 25-year amortization using standard GDS/TDS ratios and estimated Greater Moncton property tax. Actual approval amounts, rates, and payments vary by lender and your full financial picture. Talk to a mortgage professional for exact figures.
How the Trade-Up Calculator Works
Moving up to a bigger home in Greater Moncton is really two transactions stacked on top of each other. You sell your current home, take the equity you have built, and roll it into the down payment on the next one. This calculator estimates the price of that next home by combining what you walk away with from the sale, any extra savings you add, and the mortgage your household income can carry. The result is a realistic ceiling to shop against before you fall in love with a listing you cannot comfortably afford.
Expected Net Proceeds
This is what actually lands in your bank account after you sell, not your sale price. Take your expected sale price and subtract real estate commission (around 5%), legal fees, your remaining mortgage balance, and any prepayment penalty. If you are not sure of this number, run the Net Proceeds Calculator first, then bring the result back here.
Extra Savings
Any cash you can add on top of your equity, from a savings account, a TFSA, or a gift. This goes toward your down payment and the closing costs on the new home, including land transfer tax and legal fees. Even a modest amount here can lift your next-home budget and reduce how much you need to borrow.
Household Income and Debts
Lenders decide how much you can borrow using two ratios. GDS keeps your housing costs at or below 39% of gross income, and TDS keeps housing plus all other debt payments at or below 44%. That is why your car loan, credit cards, and lines of credit matter: every dollar of monthly debt lowers the mortgage you qualify for.
Interest Rate and the Stress Test
Enter the contract rate you expect to get. Canadian lenders must qualify you at the federal stress-test rate, which is the higher of your rate plus two percentage points or 5.25%. This calculator qualifies your mortgage at that stress-test rate but shows your estimated monthly payment at the actual contract rate, so the budget stays honest.
A Worked Greater Moncton Example
Say you expect $250,000 in net proceeds from selling your current home and you can add $20,000 in savings, giving you $270,000 for the down payment and closing costs. Your household earns $120,000 a year with $600 a month in other debt payments, and you expect a 5.25% mortgage rate. Qualified at the 7.25% stress-test rate over 25 years, and after setting aside an allowance for property tax and heat, your household can carry a mortgage of roughly $417,000. Add that to your $270,000 down payment and your approximate next-home price is around $687,000, with an estimated monthly payment near $2,500 at the 5.25% contract rate, before property tax and heat. Change any input above and the numbers update instantly.
Important. This is an educational estimate to help you plan, not a mortgage pre-approval or financial advice. Real approval amounts depend on your credit, employment, the specific property, and your lender's policies. Use this to set a realistic search range, then get a proper pre-approval from a mortgage professional before you make an offer.
Planning a Move-Up in Greater Moncton?
The calculator gets you a range. A conversation gets you a plan that handles the sell-first-or-buy-first question, bridge financing, and the double set of closing costs.