How much house can I afford on $100,000 a year in Canada?
A home up to about
$522,799
On $100,000 a year, you could afford a home up to about $522,799 with a 20% down payment of $104,560. The mortgage payment would be about $2,315 a month, or $2,763 with property tax and heating.
- Down payment
- $104,560
- Mortgage
- $418,239
- Payment a month
- $2,315
What it costs each month
| Mortgage payment | $2,315 |
| Property tax | $349 |
| Heating | $100 |
| Total | $2,763 |
|---|
How your down payment changes it
| Saved for a down payment | Home up to | Mortgage | Payment a month |
|---|---|---|---|
| $21,622 (5%) | $432,424 | $427,234 | $2,365 |
| $45,772 (10%) | $457,718 | $424,716 | $2,351 |
| $104,560 (20%) | $522,799 | $418,239 | $2,315 |
How it’s worked out
Lenders qualify you at the stress test rate, the higher of your rate plus 2% or 5.25% (6.50% here). Your housing costs at that rate can be up to 39% of your gross income, and all your debt payments up to 44%. On $100,000, that's $3,250 a month for housing.
Assumes no other debts, a 25-year amortization, 0.8% property tax and $100 a month heating, with the stress test and the GDS and TDS limits. New uninsured fixed-rate mortgages of 5 years or more averaged 4.49% in July 2026 (Bank of Canada).
- 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.
Frequently asked questions
How much house can I afford on $100,000 a year in Canada?
On $100,000 a year, you could afford a home up to about $522,799 with a 20% down payment of $104,560. The mortgage payment would be about $2,315 a month, or $2,763 with property tax and heating.
How much down payment do I need on $100,000?
With $21,622 saved, you could buy a home up to about $432,424. With $45,772 saved, you could buy a home up to about $457,718. With $104,560 saved, you could buy a home up to about $522,799.