How much mortgage can I afford?

Lenders generally limit your total monthly debt payments to about 40% of gross income. This calculator backs out a home price from that limit.

What is the mortgage stress test?

In Canada you must qualify at the higher of your contract rate plus 2% or 5.25%, so your approved amount may be lower than a simple affordability estimate.

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Mortgage Affordability Calculator

How much house you can afford.

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Household income (CAD/yr) ($)Monthly debt payments (CAD) ($)Down payment (CAD) ($)Interest rate (%)

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How to use this calculator

Enter household income and monthly debts.
Enter your down payment and a rate.
See the home price you can likely afford.

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Frequently asked questions

How much mortgage can I afford?: Lenders generally limit your total monthly debt payments to about 40% of gross income. This calculator backs out a home price from that limit.
What is the mortgage stress test?: In Canada you must qualify at the higher of your contract rate plus 2% or 5.25%, so your approved amount may be lower than a simple affordability estimate.