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How much home can you afford?
Your income, down payment and debts set a ceiling. We qualify you at the stress-test rate lenders actually use and work back to a maximum price.
Your finances
$
$
$/mo
%
yrs
$/mo
YOU CAN AFFORD UP TO
$728,694
Qualified at the 6.29% stress-test rate, within the standard 39% and 44% lending ratios.
Max mortgage
$608,694
Max payment
$4,000
How we got there
Gross monthly income$11,667
Gross debt service limit39% of income, less carrying costs$4,000
Total debt service limit44% of income, less debts and carrying$4,183
Room for principal & interest$4,000
Qualifying rateThe greater of your rate + 2% and 5.25%6.29%
What that buys
Maximum mortgage$608,694
Your down payment$120,000
Maximum purchase price$728,694
Estimates only. A guide, not a pre-approval. Lenders weigh credit, employment and the specific property, and CMHC rules cap insured mortgages. Confirm with your mortgage broker.
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