Enter your household income, monthly debts and down payment. The mortgage affordability calculator applies the two ratios lenders use and the stress test, then shows the home price you may qualify for. Rules checked October 3, 2026.
The rules behind the number
- Stress test: lenders qualify you at your contract rate plus 2%, or at 5.25%, whichever is higher.
- Housing costs: your mortgage payment, property tax, heating and half of any condo fees should stay within 39% of gross household income.
- Total debts: housing costs plus your other debt payments should stay within 44%.
- Less than 20% down: you need mortgage loan insurance, and the home must cost less than $1,500,000.
The result is a ceiling, not a target. A lender also looks at your credit history, your job and the property itself, and only a written pre-approval tells you your real number. See what to bring to a pre-approval.
More tools: all calculators. Guides: first-time buyer guide.
Sources (official pages, checked October 3, 2026)
- CMHC – Requirements for homeowner mortgage loan insurance (39% and 44% ratios, $1,500,000 limit)
- OSFI – Minimum qualifying rate for uninsured mortgages (the stress test)
- Financial Consumer Agency of Canada – Down payment (minimums, mortgage loan insurance)
- CMHC – Mortgage loan insurance cost (premium table)
Programs and limits change, often at budget time. Confirm the current rules on the official page before you rely on them.
Talk to me in English or Arabic: call or text (647) 465-3710, message me on WhatsApp, or email Mohieddinrealtor@gmail.com.
General information only – not financial, legal or mortgage advice. Please consult a licensed professional about your own situation.