Tools

Affordability calculator

What can you actually afford? Income, debts and down payment against the stress test, with Canadian mortgage rules.

Income

Annual Household Income ($)

Employment Type

Co-Borrower

Add co-borrower income

Co-borrower Annual Income ($)

Annual Rental Income ($)

50% of annual rental income counts toward qualifying

Down Payment

Down Payment ($)

First-Time Home Buyer

Eligible for 30-year amortization on new builds

New Build / Pre-Construction

Required for 30-year insured amortization

Monthly Debts

Car Payment ($/mo)

Credit Card Min ($/mo)

Student Loan ($/mo)

Other Debts ($/mo)

Existing Mortgage ($/mo)

Housing Costs

Property Tax ($/mo)

Heating ($/mo)

Condo Fees ($/mo)

Mortgage Terms

Interest Rate (%)

Mortgage Term

Amortization

Maximum Home Price

Max Mortgage

Min Down Payment Required

Stress Test Rate

CMHC Premium

Monthly Payment Breakdown

Principal & Interest

Property Tax

Heating

Condo Fees

CMHC (monthly)

Total Monthly

Debt Ratios

GDS Ratio

Max 39%

TDS Ratio

Max 44%

GDS measures housing costs vs. income (max 39%). TDS includes all monthly debts (max 44%).

Total Interest Paid

Over 25 Years

Over 30 Years

An estimate for planning, not financial or legal advice. Lenders, lawyers and the Province have the final numbers. Questions? Call (647) 559-5141.