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Canada Affordability Calculator

Find out how much home you can afford in Canada based on your income, debts, and the stress test qualifying rate.

Your Income & Debts

Combined income before taxes

CAD
CAD 30,000CAD 1,000,000

Car loans, student loans, credit card minimums, etc.

CAD
CAD 0CAD 10,000
CAD
CAD 33,297CAD 2,000,000

Monthly Housing Costs

Annual property tax ÷ 12

CAD
CAD 0CAD 3,000

Estimate ~$150–200/month for a typical home

CAD
CAD 0CAD 1,000

50% of condo fees are counted toward GDS. Enter 0 if not applicable.

CAD
CAD 0CAD 3,000

Mortgage Terms

%
0.5%15%
yrs
5 yrs30 yrs

Used for CMHC insurance tax (QC: 9.975% QST, SK: 6% PST)

Stress test qualifying rate: 6.89% (higher of 4.89% + 2% or 5.25%)

Debt Ratio Analysis

GDS Fail
TDS Fail
GDS Ratio (Gross Debt Service)
39.9%/ 39% limit
TDS Ratio (Total Debt Service)
44.9%/ 44% limit
OSFI guidelines: GDS ≤ 39% and TDS ≤ 44% of gross monthly income. These are calculated using the stress test qualifying rate.

Your Affordability

Maximum Home Price

CAD 582,961

Down payment: CAD 100,000 + CMHC: CAD 13,523

Maximum Mortgage

CAD 482,961

Estimated Monthly Payment

CAD 2,857

At 4.89% (stress test: 6.89%)

Monthly Income

CAD 10,000

Stress Test Rate

6.89%

PilotRate provides educational mortgage estimates and does not constitute financial advice. Actual qualification depends on your lender's criteria.

Canada Home Affordability — Frequently Asked Questions

How much mortgage can I afford based on my salary in Canada?
Most Canadian lenders use the stress test to determine your maximum mortgage. As a general guideline, you can typically qualify for 4 to 5 times your annual income, but this varies based on your existing debts, down payment amount, and the current stress test qualifying rate. Our calculator factors all of these variables to give you a personalized result.
What are GDS and TDS ratios in Canadian mortgages?
GDS (Gross Debt Service) measures your monthly housing costs — mortgage, property tax, heating, and half of condo fees — as a percentage of your income. Lenders cap GDS at 32%. TDS (Total Debt Service) adds all your other debt payments like car loans and credit cards, capped at 40%. Our calculator computes both ratios automatically.
What is the mortgage stress test qualifying rate?
OSFI mandates that all borrowers must qualify at a minimum rate of 4.79% or their contract rate plus 2%, whichever is higher. This ensures you can still afford your mortgage if interest rates rise. Our affordability calculator applies the stress test automatically so you know your true buying power.
How does CMHC insurance affect how much home I can afford?
If your down payment is less than 20%, CMHC insurance adds 2.80% to 4.00% to your loan amount, which increases your monthly payment and reduces how much you can borrow. A larger down payment eliminates CMHC insurance entirely and improves your affordability. Our calculator factors this in automatically.
What debts are included when calculating mortgage affordability?
Lenders consider all recurring debt obligations including car loans, credit card payments, lines of credit, student loans, and child support payments. These are factored into your TDS ratio. Our calculator lets you enter your total monthly debt payments to get an accurate affordability estimate.