Home Affordability Calculator Canada

Your numbers

Household

Use gross income before tax and the monthly payments that appear on your debt obligations.

Annual household income Down payment available Monthly debt payments Preferred core housing budget optional

Home assumptions

Estimates are enough here. These costs help keep the result grounded in the kind of home you have in mind.

Interest rate Amortization Annual property tax Monthly heating Monthly condo fees

First-time buyer or buying a new build Select this if you may qualify for a 30-year insured mortgage. An additional insurance premium applies.

Please review:

Comfortable purchase price $0 planning estimate

Built around a more conservative monthly plan.

At your entered rate

Monthly picture

Mortgage payment: $0
Core housing costs: $0
Mortgage amount: $0

Qualified at 0%

Debt-service check

Housing ratio0%

Comfort target: 32%

Total debt ratio0%

Comfort target: 40%

Lender-style upper estimate See the less conservative scenario Hide upper scenario $0

This uses 39% housing and 44% total-debt limits. Think of it as an upper comparison, not a target or approval, since it does not take your preferred budget into account.

Mortgage amount: $0
Housing ratio: 0%
Total debt ratio: 0%

This tool is for planning only. It is not a pre-approval, lending decision, or financial recommendation. A lender may use different assumptions for income, debt, expenses, credit, insurance, and the property.

Explore mortgage payments Compare rent vs. own

Questions and references

What makes the comfortable estimate different?

It uses planning ratios of 32% for housing and 40% for total debt, then applies your preferred core housing budget when you provide one. This creates breathing room below the lender-style comparison.

What is included in the core housing cost?

The debt-service check includes the qualifying mortgage payment, property tax, heating, and 50% of condo fees. The monthly core-housing total uses the mortgage payment at your entered rate and 100% of condo fees. It excludes home insurance, electricity and water beyond heating, and maintenance or repair reserves, which should be budgeted separately.

How does the mortgage stress test work?

The qualifying payment uses the higher of 5.25% or your entered rate plus 2 percentage points. Your actual payment may be lower, but the higher payment is used to test borrowing capacity.

Why could a lender give me a different number?

Lenders verify income and debts, review credit, apply their own policies, and may treat bonuses, self-employment income, rental income, condo costs, support payments, or other obligations differently.

Official calculation references