📋 Enter Your Details
💼 Income
$
Combined gross income before taxes
🏦 Mortgage Details
$
Min 5% on first $500K · 10% on $500K–$999K · 20% on $1M+
%
Current 5-yr fixed avg ~4.79% (Apr 2026)
First-time buyers can now amortize over 30 years
$
Approx. 0.5–1.5% of home value per year
💳 Monthly Debts
$
$
Student loans, credit cards, lines of credit
🏠 Carrying Costs
$
Enter 0 for houses / freehold properties
$
CMHC uses $150/month as a standard estimate
🏠 Maximum Home Price You Can Afford
$0
Based on GDS/TDS ratios and the mortgage stress test
Max Mortgage
$0
Home price minus down payment
Monthly Payment
$0
Principal + interest
Stress Test Rate
0%
Rate used to qualify
Down Payment %
0%
Of purchase price
GDS Ratio
0%
Max allowed: 39%
TDS Ratio
0%
Max allowed: 44%
Stress Test: PASS
You qualify at the stress test rate.
📊 Debt Ratio Analysis
GDS — Gross Debt Service Ratio
0%
Housing costs ÷ gross income · Maximum allowed: 39%
TDS — Total Debt Service Ratio
0%
All debt payments ÷ gross income · Maximum allowed: 44%
🇨🇦 Canadian Minimum Down Payment Rules
Homes up to $500,0005% minimum
$500,001 – $999,9995% on first $500K + 10% on remainder
$1,000,000 and above20% minimum (no CMHC available)
First-time buyers30-year amortization available
💡 Home Buying Tips for Canadians
🧪 Stress Test Reality
The stress test means you must qualify at your rate + 2%. If you get 4.79%, you must prove you can afford payments at 6.79%. This protects you if rates rise.
💰 The 20% Magic Number
A 20% down payment eliminates CMHC insurance (which can add thousands to your mortgage) and gives you immediate equity in your home.
🏦 Shop Multiple Lenders
Even a 0.25% rate difference on a $500K mortgage saves over $15,000 in interest over 5 years. Always compare banks, credit unions, and brokers.
📋 Get Pre-Approved First
A pre-approval locks in your rate for 90–120 days and shows sellers you're serious. It also reveals your exact budget before you start house hunting.