Mortgage affordability calculator
Estimate the highest purchase price lenders are likely to consider, using the federal stress test and the GDS/TDS debt limits.
Mortgage rules last reviewed: September 29, 2026
Self-employed: lenders usually average the last two years of line 15000.
Car loans, credit cards (3% of balance), lines of credit, support payments.
Most Ontario cities charge about 0.7%–1.7%. Toronto is about 0.75%.
Lenders count half of condo fees.
- Mortgage amount
- $620,662
- Includes default insurance
- $18,662
- Payment at your rate
- $3,571 /mo
- Payment lenders test at 6.89%
- $4,305 /mo
- Housing costs vs income (GDS)
- 39.0% of 39%
- All debts vs income (TDS)
- 39.0% of 44%
- What sets the limit
- housing costs (GDS)
For illustration only. Not a rate quote, approval or pre-qualification.
How this is calculated
- Lenders qualify you at 6.89% — the higher of your rate + 2% or 5.25% — not at your actual rate.
- Limits used: housing costs up to 39% of gross income, all debts up to 44% (CMHC). Some lenders are stricter.
- Self-employed? Lenders usually use a two-year average of your personal income, and some programs treat business income differently. Igor can review how a lender would read yours.
- Closing costs (land transfer tax, legal fees) are extra — see the closing costs calculator.
Calculator disclaimer
Calculators are provided for general informational and illustrative purposes only.
Results are estimates and may not reflect lender-specific qualification requirements, mortgage-insurance premiums, taxes, fees, available products, payment calculations or other transaction costs.
Calculator results do not constitute:
- Mortgage approval
- Pre-approval
- A rate commitment
- A lending commitment
- Financial advice
- Tax advice
- Or legal advice
Mortgage rules, rates and lender requirements can change.
For advice about your specific circumstances, speak with the appropriate licensed professional.
But how does this apply to your business income?
This calculator estimates the numbers you entered. How a lender treats your salary, dividends or business income is a separate question, and it's the one the Mortgage Readiness Review looks at first.