Rooofread tools · How Far Away Am I?
You’re saving. The target can move.
See your purchase funds alongside the home’s required cash—and the buffer you want left over.
What your purchase timeline calculates
Your savings can grow while the price of the home you want changes too. How Far Away Am I? puts your purchase funds beside the cash required for that moving target, with a separate milestone for the reserve you want to keep.
What it includes
Purchase-designated cash, TFSA funds, eligible FHSA balances, eligible capped Home Buyers’ Plan withdrawals, gifts available now and monthly savings. The target includes a minimum or chosen down payment, entered purchase costs and your selected reserve. Home-price growth and savings returns are editable assumptions.
How to read your result
The down-payment milestone means you have the modeled down payment alone. The buffered milestone also includes closing costs and your chosen reserve. Neither is mortgage approval: income, debt, credit and lender requirements still matter. If the target is never reached within the modeled horizon, change an assumption to understand the gap rather than treating the result as a prediction.
How the calculation works
Each month the tool projects purchase funds and recalculates the down payment for the modeled home price. It compares funds with the down-payment target and then with down payment plus closing costs and reserve. Returns apply to the non-RRSP savings pool; HBP funds are held flat. FHSA room is informational and is not added to your balance. Future tax refunds, benefit eligibility and future changes in program rules are not projected.
Read the full methodology, coverage and dated sources →
Questions this tool can help answer
- When would I have enough for closing without emptying my savings?
- What if the home price rises faster than I can save?
- How much difference would another monthly contribution make?