Mortgage Calculator

Mortgage Affordability Calculator

Find out how much mortgage you can afford based on your income, debts, and down payment. Uses Canadian GDS and TDS ratio guidelines.

Gross Annual Household Income

Monthly: $10,000

Monthly Debt Obligations

Car payments, student loans, lines of credit, etc.

Down Payment Available

Expected Mortgage Rate (%)

Stress test rate: 7.00% (higher of +2% or 5.25%)

Amortization Period

Estimated Annual Property Tax

Monthly: $417

Monthly Heating Costs

Maximum Home Price

$472,000

Maximum mortgage: $372,000

Actual Monthly Payment

$2,175

at 5%

Stress Test Rate

7.00%

qualifying rate

Debt Service Ratios

GDS (Gross Debt Service)32.0% / 32% limit

TDS (Total Debt Service)37.0% / 44% limit

GDS includes mortgage + property tax + heating. TDS adds all other debt payments.

Monthly Housing Costs

Mortgage payment (actual rate)$2,175

Property tax$417

Heating$150

Other debts$500

Gross monthly income$10,000

Your down payment of 21.2% is ≥ 20% — no CMHC insurance required.

Based on OSFI Canadian mortgage stress test guidelines. Results are estimates — speak with a mortgage broker for a pre-approval.

This calculator is for educational purposes only and does not constitute financial advice. Results are estimates based on the inputs you provide. Consult a licensed mortgage broker or financial advisor for advice specific to your situation.