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Affordability Calculator
Find out how much home you can afford in Canada based on your income, debts, and the stress test qualifying rate.
Your Income & Debts
Combined income before taxes
$
$30,000$1,000,000
Car loans, student loans, credit card minimums, etc.
$
$0$10,000
$
$33,297$2,000,000
Monthly Housing Costs
Annual property tax ÷ 12
$
$0$3,000
Estimate ~$150–200/month for a typical home
$
$0$1,000
50% of condo fees are counted toward GDS. Enter 0 if not applicable.
$
$0$3,000
Mortgage Terms
%
0.5%15%
yrs
5 yrs30 yrs
Stress test qualifying rate: 6.89% (higher of 4.89% + 2% or 5.25%)
Debt Ratio Analysis
GDS Fail
TDS Fail
GDS Ratio (Gross Debt Service)
39.9%/ 39% limit
TDS Ratio (Total Debt Service)
44.9%/ 44% limit
OSFI guidelines: GDS ≤ 39% and TDS ≤ 44% of gross monthly income. These are calculated using the stress test qualifying rate.
Your Affordability
Maximum Home Price
$582,961
Down payment: $100,000 + CMHC: $13,523
Maximum Mortgage
$482,961
Estimated Monthly Payment
$2,857
At 4.89% (stress test: 6.89%)
Monthly Income
$10,000
Stress Test Rate
6.89%
PilotLend provides educational mortgage estimates and does not constitute financial advice. Actual qualification depends on your lender's criteria.