Mortgage Affordability Calculator (Canada)
Step-by-step estimate based on income, debts, down payment, and qualifying rate logic (stress test).
Inputs
Results
| Breakdown | Monthly |
|---|---|
| Income (gross) | $0 |
| Other debts | $0 |
| Credit payment (est.) | $0 |
| Property tax | $0 |
| Heating | $0 |
| Condo fees | $0 |
| Max mortgage payment | $0 |
Disclaimer: Estimate only. Lender rules vary and approvals depend on verified income, credit, and documents.
Visual
− Down payment: $0
+ CMHC insurance (estimate): $0
= Total mortgage required: $0
Closing cost reserve (2%–4% guideline): $0
= Total cash needed: $0
Property tax: $0
Condo fees: $0
Heating: $0
Debts (incl. credit min): $0
= Total monthly expenses: $0
How to use
- Enter household income and down payment.
- Add debts and optional costs (tax, condo, heating) if you know them.
- Set contract rate and qualifying mode (stress test is common in Canada).
- Click Calculate to see an estimated maximum price and affordability breakdown.
- Open Step 3/4 to test a scenario and estimate cash needed + monthly expenses.
Mortgage affordability basics (Canada)
Mortgage affordability is typically estimated using lending ratios like GDS and TDS, plus a qualifying rate (often a stress test). Housing costs usually include your mortgage payment, property taxes, heating, and (if applicable) condo fees. TDS adds other monthly debts.
In Canada, the qualifying rate often uses the higher of a minimum threshold or the contract rate plus an additional buffer. This calculator uses a planning approach to estimate the maximum purchase price based on your inputs — not a guaranteed approval.
If you don’t know taxes, heating, or condo fees yet, leave them blank and use the defaults as a starting point. Once you have a target area or listing, replace estimates with real numbers to refine your plan.