Mortgage · Canada
Mortgage Affordability Calculator (Canada).
See the most home your income can support, tested the way a Canadian lender tests it: at the stress-test rate, against the CMHC 39% GDS and 44% TDS limits.
Worked example. Household income $100,000, other debts $500 a month, down payment $100,000, contract rate 5%, 25-year amortization, property tax 1% of price and $100 a month heating. The lender qualifies you at 7% (5% plus 2%, which beats the 5.25% floor). The 44% TDS limit binds first: it leaves $3,067 a month for the mortgage payment plus property tax after heat and debts. That supports a mortgage of about $380,600, so a maximum price of about $480,600. Your real payment at 5% would be about $2,214 a month.
The rules: qualifying rate is the greater of the contract rate plus 2% or 5.25% (OSFI, modified 29 January 2026); GDS is capped at 39% and TDS at 44% for insured mortgages (CMHC). Rules as of 30 September 2026; see the sources below.
Building a down payment? A First Home Savings Account is deductible and tax-free on withdrawal: see the FHSA calculator.
Source: OSFI — Minimum qualifying rate for uninsured mortgages (greater of contract rate + 2% or 5.25%; modified 29 January 2026); CMHC — Calculating GDS/TDS for insured mortgages (39% GDS, 44% TDS) · As of
Cite this page: TNAADO Tools, “Mortgage Affordability Calculator (Canada)”, https://tools.tnaado.ca/calculators/mortgage/affordability/
Inputs
Maximum price
Fill the form and press Calculate.
How this calculator works
It finds the largest mortgage whose payment at the qualifying rate keeps both ratios inside the limits, then adds your down payment. GDS: mortgage payment + property tax + heating + 50% of condo fees, at most 39% of gross monthly income. TDS: GDS costs + all other monthly debt payments, at most 44%. Payments use Canadian semi-annual compounding over your chosen amortization.
Not included: the CMHC premium (added to the loan when the down payment is under 20%), your credit score, rental income, and lender-specific limits. Some lenders apply tighter ratios than the CMHC maximums. If your down payment cannot buy the price your income supports, the result is capped at the price the down payment allows.
Next steps: work out the monthly cost with the mortgage payment calculator, budget the extra cash with the closing costs calculator, and check the land transfer tax.
How much mortgage can I afford at different incomes?
Outputs of this calculator with one set of assumptions: $500 of other monthly debts, a $300,000 down payment, 5% contract rate (tested at 7%), 25-year amortization, property tax 1% of price a year, $100 heating and no condo fees. Rounded to the nearest $100. Your own debts, rate and down payment will move every row.
| Gross income | Max mortgage | Max price | Binding limit |
|---|---|---|---|
| $60,000 | $172,200 | $472,200 | TDS 44% |
| $80,000 | $265,800 | $565,800 | TDS 44% |
| $100,000 | $359,400 | $659,400 | TDS 44% |
| $150,000 | $577,400 | $877,400 | GDS 39% |
| $200,000 | $784,700 | $1,084,700 | GDS 39% |
Debts bind at lower incomes (TDS) and housing costs at higher ones (GDS). Ratios and qualifying rate as of 30 September 2026, per the sources above.
Sources (checked 30 September 2026)
TNAADO Inc. · Toronto
Two ratios decide what a lender will lend
Canadian affordability is not judged on income alone but on two debt-service ratios. GDS sets housing costs (mortgage payment, property tax, heat and half of any condo fee) against gross income. TDS adds every other debt payment on top. CMHC caps insured mortgages at 39% GDS and 44% TDS, and the binding one is usually TDS, which is why a car loan can cut the mortgage a household qualifies for by far more than its monthly payment suggests.
The mistake people make. Qualifying at the contract rate. Federally regulated lenders must underwrite at the greater of the contract rate plus two percentage points or the minimum qualifying rate, so the payment being tested is higher than the payment you will actually make. The other error is confusing what a lender will approve with what is affordable: the ratios ignore childcare, tuition, savings and every other cost of an actual life.
Frequently asked questions
How much mortgage can I afford in Canada?
Lenders test two ratios, not a salary multiple. At the qualifying rate, your housing costs must fit within 39% of gross monthly income (GDS) and your housing costs plus other debts within 44% (TDS). On $100,000 income with $500 of monthly debts and a $100,000 down payment, the worked example above gives a maximum price of about $480,600. Change any input and the answer moves, most of all with your debts and the interest rate.
What is GDS and TDS?
GDS (gross debt service) is mortgage principal and interest, property tax, heating and 50% of any condo fees, as a share of gross monthly income. TDS (total debt service) is all of that plus every other debt payment, such as car loans, student loans and credit cards (CMHC counts at least 3% of a card or unsecured line balance each month). CMHC restricts GDS to 39% and TDS to 44% for insured mortgages.
What is the mortgage stress test?
Lenders qualify you at a higher rate than the one you will pay. The minimum qualifying rate is the greater of your contract rate plus 2% or 5.25%, per OSFI for uninsured mortgages and CMHC for insured ones. At a 5% contract rate you are tested at 7%. The calculator applies this automatically and shows the qualifying rate it used. For a full pass/fail test see the mortgage stress test calculator.
How much down payment do I need?
5% of the first $500,000 of the price, 10% of the portion from $500,000 up to $1.5 million, and 20% of the whole price at $1.5 million or more (Financial Consumer Agency of Canada). Under 20% down, the mortgage must be insured, and the insurance premium is added to the loan. This calculator does not add the premium, so with less than 20% down treat its result as an upper bound.
Why is my result different from my bank's pre-approval?
Lenders also look at credit history, employment, the actual property tax and heating cost, and their own policies. This tool uses a default 1% property tax and $100 heating, which you can change. Renters' rent, childcare and other living costs are not part of either ratio, so a lender's maximum is not the same as a comfortable budget.
Disclaimer
Estimates for educational purposes only, not lending advice. Real approval amounts depend on credit score, employment history and lender policy.