Monthly Income - the gross amount on your paychecks. ie before taxes.
Monthly Debt - monthly payments for credit card bills, car loan, car leases, student loans, alimony, etc.
Down Payment - how much cash do you have in savings that you could pay at the time of closing. This is in addition to the $2000-$4000 you will need for closing costs.
Years - what is the length of the loan in years.
Interest Rate - this is the annual interest rate you will pay on the loan.

Important Notes
1. Calculations based on total monthly repayment divided by total monthly income resulting in a Debt Servicing Ratio (DSR) not exceeding 32%. This is based on industry averages for calculating DSR's.

2. As most institutions make their calculations with an interest rate 2% higher than the current rate, we have also used an interest rate 2% higher than the one entered in.

3. This calculation does not pre qualify you for a loan - it is to be used as an indication only. Individual institutions have their own lending criteria which may differ from the one used here.

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