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Canada Mortgage Affordability Assessment & Calculator

Explore a high-level home-buying budget with an educational mortgage affordability calculator for Ontario, BC, and other Canadian provinces. Confirm actual qualification with a regulated lender or mortgage professional.

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Used by home buyers across Canada
Ontario Mortgage Assessment BC Affordability Calculator Alberta Mortgage Rules Federal Stress Test 2026

The Assessment Process

3 Steps to Calculate Affordability

1

Income & Province

Select your province to add regional context. Enter local property taxes and other costs where requested because the tool does not maintain every municipal rate.

2

Debt Analysis

The calculator uses the debts you enter to estimate a total debt-service ratio. A lender may calculate income and obligations differently.

3

Stress Test Result

Receive an educational Mortgage Affordability Assessment with a high-level purchase-price estimate. It is not a qualification decision.

Mortgage Affordability Calculators by Province

Housing costs and rules vary across Canada. Choose a province for general context, then verify municipal taxes, utilities, closing costs, insurance, and current qualification rules independently.

Ontario Calculator & Rules British Columbia Calculator & Rules Alberta Calculator & Rules Quebec Calculator & Rules Tools Mortgage Calculators

Why You Need a Detailed Assessment

A pre-approval is based on the information and rules available at the time. Lenders use gross and total debt-service ratios, the mortgage stress test, credit history, down payment, property details, and other criteria to determine qualification.

  • Debt-service estimate: Review how housing costs and other debts affect affordability under common lender calculations.
  • Rate sensitivity: See how a higher qualifying or renewal rate could change estimated payments and affordability.
  • Mortgage insurance: Include an estimated premium where the selected down payment may require insured financing.
Assessment Example
Gross Monthly Income $8,000
Illustrative Monthly Housing Budget $3,120
Current Car Payment -$600
Remaining for Mortgage $2,520
RUN YOUR ASSESSMENT

Frequently Asked Questions

How does the Mortgage Affordability Calculator work for Ontario?

The tool uses the information you enter to provide an educational estimate. It does not capture every Ontario property cost, lender policy, insurance rule, tax, or qualification requirement.

What is a Mortgage Affordability Assessment?

It compares entered income, debts, and estimated housing costs using common debt-service concepts. It cannot determine whether a particular lender will approve a mortgage.

How are GDS and TDS used?

GDS compares qualifying income with housing costs, while TDS also includes other debt obligations. Acceptable thresholds can vary by insurer, lender, product, borrower profile, and current rules.

Stop Guessing. Start Planning.

Get a high-level mortgage affordability assessment in 2 minutes.

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Mortgage information: Estimates are not a pre-approval. Confirm current qualification rules, rates, insurance requirements, and closing costs with a regulated mortgage professional or lender.

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Review mortgage fundamentals

Quick answer

This calculator provides a high-level affordability estimate using the information entered. It is not a mortgage pre-approval and does not capture every lender, insurer, tax, property, or municipal requirement.

  • Enter income, debts, down payment, rate, taxes, and other housing costs carefully.
  • Review the result under more than one interest-rate assumption.
  • Confirm qualification with a regulated lender or mortgage professional.

Mortgage and insolvency basics

Review down-payment, mortgage-insurance, and formal debt-relief basics.

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Mortgage payment calculator

Estimate principal and interest payments under different assumptions.

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Budgeting and emergency funds

Plan for housing costs and unexpected expenses before borrowing.

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