Income required to qualify for a $1,000,000 home in Canada — based on CMHC GDS 39%, OSFI stress test, and 2026 mortgage rates.
$175,456
Assuming $200K down (20%), 25-yr amortization, qualifying rate 5.25%.
| Mortgage payment ($800K @ 5.25% / 25yr) | $4,794 |
| Property tax (~0.85%/yr) | $708 |
| Heat (estimate) | $200 |
| Total monthly carrying cost | $5,702 |
| Household income | Max home price |
|---|---|
| $100,000 | $413,497 |
Run your exact numbers: Mortgage Calculator (pre-filled $1M)
Reverse it: Mortgage Affordability Calculator
Other reference points: Mortgage on $500K house
Method: CMHC GDS 39%, OSFI B-20 stress test, 5.25% qualifying rate, 25-yr amortization. Excludes CMHC insurance premium (not available for >$1.5M homes; mortgages >$1M typically require 20% down).