What you'd qualify for, and what you'd be comfortable with
Uses GDS and TDS ratios at the stress-test rate, the same way a lender would — and then shows you the number I'd actually suggest.
Your numbers
Estimated affordability
$660,739 – $734,781
- Income used
- $150,000
- Estimated mortgage (comfortable)
- $580,739
- Estimated mortgage (lender max)
- $654,781
- Estimated monthly payment
- $3,656.87
- Stress-tested payment at 6.59%
- $4,421.66
- Minimum down payment at top of range
- $48,478
Assumptions
- Comfortable range uses GDS 35% / TDS 42%; maximum uses GDS 39% / TDS 44%.
- Qualification is run at the stress-test rate, not your contract rate.
- Amortization is 25 years.
This is an illustration, not a mortgage approval or pre-approval. Real qualification depends on credit, documents, property and lender guidelines.
About this calculator
Why is the qualifying rate higher than the rate I'd pay?
Canadian lenders qualify you at the greater of your contract rate plus 2% or 5.25%. Your actual payment uses the contract rate; your approval amount uses the higher one.
Why show a comfortable number as well as a maximum?
Lender ratios ignore childcare, savings, insurance and everything else that makes up a real budget. The comfortable figure leaves room for the life around the mortgage.
Not sure which option fits your situation?
Bring your numbers — mortgage balance, balances you're carrying, and what's stressing you out. I'll walk you through what's realistic, including when doing nothing is the better call.