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Mortgage affordability calculator

Enter income, debts and rate to see the largest mortgage that passes both GDS and TDS at the qualifying rate.

Maximum mortgage

$583,273

Maximum purchase price
$683,273
Qualifying rate
6.79%
Maximum monthly mortgage payment
$4,010.00
Limited by
GDS

Assumes the mortgage is conventional. Insured purchases add the CMHC premium to the loan, so the usable price is slightly lower.

How the maximum is found

The calculator works out two monthly payment ceilings. GDS allows 39% of gross monthly income for housing costs, and TDS allows 44% for housing plus other debts. The lower ceiling, after property tax, heating and half of any condo fees, becomes the maximum mortgage payment.

That payment is converted to a loan amount at the qualifying rate over the amortization you choose, using Canadian semi-annual compounding.

Using the result with a client

Treat the figure as the A-lender ceiling. If the client needs more, check which debts can be paid off, whether a co-borrower helps, and which lenders use more flexible ratios.

Common questions

How much mortgage can I afford in Canada?
Lenders cap the mortgage so the payment at the qualifying rate keeps GDS at 39% or less and TDS at 44% or less of gross income. The lower of the two results sets the maximum, and this calculator returns that figure.
Why is the maximum mortgage lower than the payment I could afford?
Qualification uses the stress-tested rate, which is the contract rate plus 2% or 5.25%, whichever is higher. A higher rate means a higher payment per dollar borrowed, so the approved amount is smaller.
Which debts count toward TDS?
Credit card minimums, car loans and leases, student loans, lines of credit and support payments count. Utilities, phone and insurance do not.
Can a broker get a bigger mortgage than this?
Often. Some lenders allow a higher GDS and TDS, count rental or bonus income differently, or do not apply the stress test, so the best lender for a deal can raise the maximum.
Mortgage stress test calculatorCMHC insurance calculator

Run the whole deal, not one number

bips takes the same inputs, runs GDS, TDS and the stress test, then checks the deal against 40+ Canadian lenders and shows who will approve it.

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First 3 placements free. No credit card required.