Mortgage affordability calculator
Estimate affordable home price ranges using income, down payment, debt, and rate assumptions.
Estimate affordable home price ranges using income, down payment, debt, and rate assumptions.
Estimate affordable home price ranges using income, down payment, debt, and rate assumptions.
Maximum home price you can qualify for
$427,003
Bound by GDS (39%) ratio · qualifying rate 7.25%
Max mortgage
$377,003
Max housing payment
$2,725/mo
Actual payment at contract rate
$2,259/mo
CMHC ratio summary
GDS budget: $2725/mo · TDS budget: $2842/mo · Gross monthly income: $8333
A real lender pre-approval will rarely match any online calculator to the dollar, because banks treat debts differently — some count 3% of a credit-card balance as a monthly payment, others count car loans you are about to pay off. This calculator applies the same starting math a broker uses: the OSFI stress test (contract rate + 2%) and standard GDS/TDS caps, so treat the result as the centre of a range, not a promise.
At a 5.25% contract rate (qualifying at 7.25% under the OSFI stress test):
CMHC insurance premium (~4% of mortgage at 10% down) gets added on top of your mortgage balance.
Two 2026-specific things to know: (1) the federal 30-year amortization for first-time buyers of new builds is now permanent — adds ~12% to your max budget if you qualify; (2) the OSFI stress-test floor is still 5.25%, but with contract rates around 5.25% you're qualifying at 7.25% in practice — that's what shrinks the max versus what your contract-rate payment would suggest you can afford.
Primary source: CMHC — Mortgage affordability calculator (official)
For informational purposes only. Lender approvals can vary based on credit score, down payment source, and employment type.