Canada Mortgage Affordability Calculator

Enter your income, savings and debts to see how much home you can afford in Canada, with the mortgage stress test, GDS and TDS limits, the minimum down payment and CMHC insurance.

Your yearly income

Before tax

Partner’s income

If you’re buying together

Savings for a down payment

Other debt payments

Per month: car, loans, cards

More options· 4.5% over 25 years, First-time buyer

Interest rate

Amortization

First-time buyer

Allows a 30-year insured mortgage

Property tax

A year, as a share of the price

Heating

A month

Condo fees

A month, if any

New uninsured fixed-rate mortgages of 5 years or more averaged 4.49% in July 2026 (Bank of Canada).

You could afford a home up to

$470,693

$423,424 mortgage + $60,000 down payment, including $12,731 CMHC insurance

Mortgage payment: $2,344/mo
All housing costs: $2,757/mo

Mortgage$423,424
Down payment$60,000

Your income sets the limit: at this price, housing costs at the 6.5% stress test rate reach 39% of your gross income, the most lenders usually allow.

See this home in the mortgage calculator

What this means

The mortgage payment would take about 28% of your income before tax.

This is the most lenders’ rules allow, not what’s comfortable. Buying below it leaves room for saving, repairs and higher rates when your deal ends.

Next step

Monthly costs at this price

	Per month	Per year
Mortgage payment	$2,343.54	$28,122.48
Property tax	$313.80	$3,765.60
Heating	$100.00	$1,200.00
Total	$2,757.34	$33,088.08

How it’s worked out

Price your income allows: $470,693
Price your savings allow: $850,000
Stress test rate: 6.5%
Housing costs (limit 39%): 39.0%
All debts (limit 44%): 39.0%

Assumptions in this estimate

You qualify at the stress test rate: the higher of your rate plus 2% or 5.25%. Your actual payment uses your real rate.
Housing costs (mortgage at the stress test rate, property tax, heating and half of any condo fees) can be up to 39% of gross income, and all debt payments up to 44%.
With less than 20% down, the CMHC premium is added to your mortgage. Heating is an estimate; lenders use your actual costs.

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How the calculator works

It finds the highest price where:

Your income passes the stress test: at the qualifying rate, housing costs are no more than 39% of your gross income (GDS) and all your debts no more than 44% (TDS).
Your savings cover the minimum down payment.

The CMHC premium is included in the mortgage when you put down less than 20%. First-time buyers can choose a 30-year amortization on an insured mortgage, which adds 0.20% to the premium.

Ways to afford more

Pay down other debts: they count against your TDS.
Save 20% down: you avoid CMHC insurance.
Consider a 30-year amortization if you’re a first-time buyer: lower payments mean you qualify for more, though you pay more interest.

See the payments on any home in our mortgage calculator.

Last updated October 13, 2026

Frequently asked questions

How much house can I afford on $100,000 a year?

With a 20% down payment of about $105,000, you could afford a home up to about $523,000 at a 4.5% rate over 25 years. You'd qualify at the 6.5% stress test rate, and your actual payment would be about $2,315 a month.

What is the mortgage stress test?

To qualify, you must show you could afford payments at the higher of your rate plus 2% or 5.25%. It applies to both insured and uninsured mortgages, so you qualify for less than your actual rate would suggest.

What are GDS and TDS?

Gross debt service (GDS) is your housing costs (mortgage at the stress test rate, property tax, heating and half of any condo fees) as a share of gross income; for insured mortgages it can be up to 39%. Total debt service (TDS) adds your other debt payments and can be up to 44%.

What's the minimum down payment?

5% of the first $500,000, plus 10% of the part between $500,000 and $1.5 million. Homes of $1.5 million or more need 20% down. With less than 20% down, CMHC insurance is added to your mortgage.