How Much House Can I Afford? Calculator
Lenders test whether you could still pay at a higher rate (the stress test) and cap how much of your income goes to housing and debt. This estimate applies those limits and tells you which one is holding you back.
Your finances
Estimated maximum home price
$684,000
- Mortgage
- $602,104
- Down payment
- $100,000
- Insurance premium (added)
- $18,104
- Qualifying rate
- 6.50%
- Max monthly mortgage payment at that rate
- $4,033
What limits you: housing costs (GDS 39% of income).
Uses the 5.25% floor or your rate plus 2%, GDS 39% and TDS 44% (insured limits). Lenders’ own limits and credit checks differ. An estimate, not pre-approval. Plan for closing costs and land transfer tax on top.
Calculations are estimates for general educational use and are not financial, mortgage, tax or legal advice, a lending offer or approval. Actual payments, qualification, rates, insurance, taxes and fees depend on your lender, contract and circumstances. Projections hold your entered rate constant after the term; future rates may differ.
More calculators
- Mortgage paymentYour payment at every frequency, with insurance and down payment rules built in.
- Land transfer taxProvincial and municipal tax with first-time buyer rebates, by jurisdiction.
- Mortgage renewalSee how a new rate changes your payment when your term ends.
- RefinanceEquity you can access, the new payment and when breaking pays off.
- PrepaymentHow much interest and time extra payments save.