How much house can I afford on $90,000 a year in Canada?
A home up to about
$468,859
On $90,000 a year, you could afford a home up to about $468,859 with a 20% down payment of $93,772. The mortgage payment would be about $2,076 a month, or $2,489 with property tax and heating.
- Down payment
- $93,772
- Mortgage
- $375,087
- Payment a month
- $2,076
What it costs each month
| Mortgage payment | $2,076 |
| Property tax | $313 |
| Heating | $100 |
| Total | $2,489 |
|---|
How your down payment changes it
| Saved for a down payment | Home up to | Mortgage | Payment a month |
|---|---|---|---|
| $19,391 (5%) | $387,808 | $383,154 | $2,121 |
| $41,050 (10%) | $410,494 | $380,897 | $2,108 |
| $93,772 (20%) | $468,859 | $375,087 | $2,076 |
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 $90,000, that's $2,925 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 $90,000 a year in Canada?
On $90,000 a year, you could afford a home up to about $468,859 with a 20% down payment of $93,772. The mortgage payment would be about $2,076 a month, or $2,489 with property tax and heating.
How much down payment do I need on $90,000?
With $19,391 saved, you could buy a home up to about $387,808. With $41,050 saved, you could buy a home up to about $410,494. With $93,772 saved, you could buy a home up to about $468,859.