Housing Affordability Calculator

Determine what you can actually afford based on current OSFI stress test parameters. The qualifying rate is often 2% higher than your contracted mortgage rate.

JavaScript Required

This interactive calculator requires JavaScript. To calculate manually, ensure your total monthly housing costs (Mortgage + Property Tax + Heat + half of Condo Fees) do not exceed 39% of your gross monthly income (GDS ratio).

Income & Debts

Gross Annual Household Income ($)

Total Monthly Debt Payments ($) (Car loans, student lines of credit, minimum credit card payments)

Purchase Details

Available Down Payment ($)

Note: In Canada, minimum down payment is 5% for first $500k, 10% for portion between $500k-$1M, and 20% for properties $1M+.

Expected Mortgage Rate (%)

Estimated Annual Property Tax ($)

Monthly Condo Fees ($) (Leave at 0 if buying freehold)

Estimated Maximum Purchase Price: $0

Qualifying Rate Used: 0%

This calculation applies standard Gross Debt Service (GDS) limit of 39% and Total Debt Service (TDS) limit of 44%. Results are illustrative; speak to a licensed mortgage broker for exact pre-approval amounts.