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How much house can I afford?

The highest price your income, your debts and your down payment allow, tested at the qualifying rate lenders must use.

Rules checked September 24, 2026
$
Everyone on the mortgage, per year.
$
Car loans, lines of credit, student loans, and 3% of card balances.
$
%
$
$
$
You could afford up to$663,684Limited by your housing costs (GDS)
Largest mortgage
$606,933
Default insurance (3.1%), in the mortgage
$18,249
Qualifying rate (stress test)
6.39%
Payment tested at the qualifying rate
$4,025
What you'd actually pay at your rate
$3,322
GDS / TDS limits
39% / 44%
Lenders and insurers can apply lower ratios, count some income differently, or require more down. Treat this as a ceiling, not a target.

How it's worked out

Lenders look at two ratios. GDS is the share of your gross monthly income that goes to the mortgage payment, property tax, heating and half of any condo fees; TDS adds every other debt payment. Insured mortgages allow up to 39% and 44%.

The payment is tested at the qualifying rate (the greater of 5.25% and your rate plus two points), not at your actual rate. That largest payment is then turned back into a mortgage amount over your amortization. Under 20% down, that mortgage has to carry the default insurance premium too, so the price is the one whose loan and premium together fit that payment.

The price is capped by your down payment too: 5% of the first $500,000, 10% of the part up to $1.5 million, and 20% from $1.5 million, where default insurance is no longer available.

Read more about it

GDS and TDS: the debt ratios lenders useHow lenders measure what you can afford, what counts in each ratio, and the limits for insured mortgages.Read the guide

General information about Canadian mortgages, not financial, legal or tax advice. Lenders and insurers apply their own criteria, and rules change; confirm the details with a licensed mortgage professional before you act.