How Much Home Can You Afford?

A Canadian estimate, with the stress test built in.

Enter your income, debts and down payment to see the highest price you may qualify for, using the same rules Canadian lenders use.

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Total before tax, for everyone on the mortgage.
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Savings, FHSA, RRSP Home Buyers' Plan and gifts from family.
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Car loans, lines of credit, student loans and minimum card payments.
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With less than 20% down, 30 years is available to first-time buyers and buyers of new builds.
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Leave at 0 for a freehold home.
You may be able to afford up to $0

Enter your numbers to see your estimate.

Mortgage amount$0
CMHC insurance (added to mortgage)$0
Monthly mortgage payment$0
Stress test rate you must qualify at0%
Housing costs to income (limit 39%)0%
Total debts to income (limit 44%)0%
Talk through my numbers

How this estimate works

The stress test

You must qualify at the higher of your interest rate plus 2% or 5.25%, even though your actual payment uses your real rate.

Debt limits

Housing costs are kept to about 39% of your gross income, and all debts including housing to about 44%.

Minimum down payment

5% of the first $500,000, 10% of the portion up to $1.5 million, and 20% for homes at $1.5 million or more.

CMHC insurance

With less than 20% down, an insurance premium of 2.80% to 4.00% is added to your mortgage, plus 0.20% for a 30-year amortization.

Have a price in mind? See the exact payment with the mortgage calculator. Buying your first home? See the programs that can help on the first-time buyer hub.

Ready for a real number?

A mortgage pre-approval confirms what a lender will actually approve. I'm happy to connect you with a trusted mortgage specialist and talk through your plan.

Book a no-pressure call Call 647-328-4800 Email at tarlikas@gmail.com

Tarlika Sehgal, REALTOR®, SRS, ABR
eXp Realty Of Canada, Inc., Brokerage

This calculator gives an estimate only and is not financial advice or a mortgage approval. It uses the federal stress test, common lender limits of 39% and 44%, minimum down payment rules and CMHC premiums. Your lender's approval may differ. Not intended to solicit buyers or sellers currently under contract with a brokerage.