Mortgage · Canada
What mortgage can I afford on $80,000?
Lenders do not multiply your salary. They test two debt-service ratios at the stress-test rate. Enter your numbers to see the mortgage and price an $80,000 income supports in Canada.
Worked example. On $80,000 of gross income with $500 of monthly debts and a $60,000 down payment, the maximum mortgage is about $291,300 and the maximum price about $351,300. The lender tests the payment at 7% (your 5% contract rate plus 2%), and TDS is the limit that binds. With no other debts the same income supports about $372,600.
The rules behind every figure on this page: the qualifying rate is the greater of your contract rate plus 2% or 5.25% (OSFI, page modified 29 January 2026); CMHC restricts GDS to 39% and TDS to 44%; and the minimum down payment is 5% of the first $500,000, 10% of the portion up to $1.5 million and 20% at $1.5 million or more (FCAC). Checked retrieved 15 October 2026.
Inputs
Result
Fill the form and press Calculate.
Worked numbers
Outputs of this calculator. Base assumptions: $500 of other monthly debts, a 5% contract rate (tested at 7%), 25-year amortization, property tax at 1% of the price a year and $100 a month for heating. Those are assumptions you can change in the form, not published figures. Rounded to the nearest $100. Income is gross, before tax, as lenders use it.
| Down payment | Max mortgage | Max price | Binding limit |
|---|---|---|---|
| $30,000 | $294,500 | $324,500 | TDS 44% |
| $60,000 | $291,300 | $351,300 | TDS 44% |
| $100,000 | $287,100 | $387,100 | TDS 44% |
| $200,000 | $276,400 | $476,400 | TDS 44% |
| Contract rate | Tested at | Max mortgage | Max price |
|---|---|---|---|
| 4% | 6% | $315,800 | $375,800 |
| 5% | 7% | $291,300 | $351,300 |
| 6% | 8% | $269,700 | $329,700 |
| Other monthly debts | Max mortgage | Max price | Binding limit |
|---|---|---|---|
| $0 | $312,600 | $372,600 | GDS 39% |
| $500 | $291,300 | $351,300 | TDS 44% |
| $1,000 | $227,500 | $287,500 | TDS 44% |
What this means on $80,000
At $80,000 the 44% TDS limit usually binds as soon as there are debts, so $500 a month of other payments shrinks the maximum price by about $21,300 in this example. Clearing a debt before applying raises the ceiling by far more than the monthly payment alone suggests.
The down payment sets a floor on the price you can buy: 5% of the first $500,000 and 10% of the portion above it. At these prices a $60,000 deposit clears that floor; a smaller one would also bring in the CMHC premium, which this tool does not model.
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 is mortgage payment + property tax + heating + 50% of condo fees, at most 39% of gross monthly income. TDS adds every other monthly debt payment and is capped at 44%. Payments use Canadian semi-annual compounding. The same engine as the main mortgage affordability calculator is used, so the two always agree for the same inputs.
Not included: the CMHC insurance premium (added to the loan when the down payment is under 20%, so treat results with less than 20% down as an upper bound), your credit score, rental income, and any tighter lender-specific limits. A pre-approval from a lender or broker is the only figure that counts.
Sources (retrieved 15 October 2026)
Frequently asked questions
What mortgage can I afford on a $80,000 salary in Canada?
About $291,300 (price about $351,300) with $500 of monthly debts, a $60,000 down payment, a 5% contract rate and a 25-year amortization. It is not a salary multiple: lenders apply the 39% GDS and 44% TDS limits at 7%.
Do lenders use gross or take-home pay?
Gross. GDS and TDS are measured against gross monthly income (CMHC), so the figures here use pre-tax income, even though your take-home pay is what you actually budget with.
How much does $500 of monthly debt cost me on $80,000?
In this example it lowers the maximum price from about $372,600 to about $351,300. Debts are counted in TDS at their monthly payment, and CMHC counts at least 3% of a credit card or unsecured line balance each month.
Why is my bank's number different?
Real approval depends on credit, employment, the actual property tax and heating cost, and lender policy. This tool also leaves out any CMHC premium.
More ways to ask the same question
How Much House Can I Afford in Ontario · How Much House Can I Afford in BC · How Much House Can I Afford in Alberta · How Much House Can I Afford in Quebec · Mortgage on a $100,000 Salary · Mortgage on a $150,000 Salary · GDS and TDS Worked Examples · How Much House Can I Afford: Single vs Couple
Estimate only — not lending advice
This is an educational estimate. It runs in your browser and nothing you enter is sent anywhere. Approval depends on credit, employment, the actual property tax and heating cost, and lender policy; confirm with a lender or mortgage broker.