Mortgage Affordability Calculator Canada:
Find Out How Much Home You Can Afford
Quick answer (Canada)
Mortgage affordability in Canada is based on income, debts, down payment, property taxes, and current interest rates. Lenders use two main ratios: Gross Debt Service (GDS) and Total Debt Service (TDS). This calculator estimates your maximum home price within those ranges.
See more in our Pre-Approval Guide, plan ahead with our Closing Costs Guide, and use our Mortgage Payment Calculator to compare scenarios. Learn the official rules at the Canada Mortgage and Housing Corporation.
See how much home you can comfortably afford in Canada. Enter your income, debts, and down payment to get a clear range based on lender guidelines. We compare 100+ lenders and explain what fits your budget.
How It Works
- Mortgage Information: Enter your mortgage rate and amortization in years. We apply a Canadian stress test automatically.
- Property Expenses: Add annual tax, monthly heating, and condo fees for GDS/TDS calculations.
- Liabilities: Include monthly car/student loans, credit card debts, etc.
- Compare Scenarios: Toggle "Compare Another Scenario" to see how changing income/debt affects max mortgage.
Scenario 1: Income & Down Payment
Mortgage & Property Info
Liabilities (Monthly)
Scenario 1 Results
Monthly Mortgage Payment
$0.00
Monthly
Max Purchase Price
$0.00
Your Mortgage: $0.00
Payment Breakdown (First 5 Years)
Principal Repaid $0.00
Interest Paid $0.00
Total Paid $0.00
Balance End of Term $0.00
Effective Amortization 25 years
How to use the affordability calculator
- Enter your household income, down payment, debts, and expected property tax and heat costs.
- Select an interest rate and amortization period to see how lender ratios affect your max purchase price.
- Adjust your down payment or debt levels to see how much more home you could qualify for.
This is an estimate only. Lenders apply their own guidelines based on your file, credit, and income type.
What most buyers worry about, solved
- “How much house can I actually afford?” → The calculator shows your range under Canadian GDS/TDS rules, then we fine-tune with lender offers.
- “Do my debts affect approval?” → Yes. Enter car loans, student loans, or credit cards to see the impact instantly.
- “What if rates change?” → Adjust the rate slider to stress test your budget before you buy.
- “Can I include rental income?” → Some lenders allow it. We’ll compare which lenders factor in rental income or spousal support.
Why Genesis Group for affordability planning
- 15+ years advising Canadian buyers nationwide
- 100+ lenders competing for your mortgage
- One advisor, one checklist, white-glove service
- FSRA-licensed and award-winning brokerage
Was a great experience working with Kirk and his team. They not only helped me refinance my mortgage on my house, they also assisted me in a commercial business acquisition.... read more
Sean P.
02/21/2024My partner and I have been in our first home for over a month now and we cannot thank Kirk and The Genesis Team enough! Kirk was patient, professional, supportive,... read more
stephanie B
01/13/2023Could not say enough about The Genesis Group. The level of dedication, professionalism, and knowledge is unmatched. When dealing with such a big life decision like buying a house -... read more
Maria Woychyshyn
11/13/2024From the very first meeting to the joyous moment of receiving my keys, The Genesis Group, under the astute leadership of Kirk Bryan, has been nothing short of spectacular in... read more
Rohan Germain
01/13/2024If getting a mortgage was an Olympic sport, these guys would take gold—blindfolded, on a unicycle, while juggling flaming swords. They made the process so smooth, I was half convinced... read more
Samantha L
09/13/2024My husband and I had used Kirk and his team upon closing a deal on our home. We couldn’t be more happy with everything Kirk and Brittney have done for... read more
Laura Vescio
11/13/2024As a first-time homebuyer, navigating the mortgage process can be incredibly daunting, but The Genesis Group made it not only manageable but truly rewarding. I had the distinct pleasure of... read more
Rohan Spence
05/13/2024I had a great experience with The Genesis Group. The process was smooth, with clear communication and competitive rates. Their team was responsive and helpful throughout. Highly recommend!
Breanna Bacik
09/13/2024Had a great experience dealing with Brittney. Fantastic communication and really worked for me and my needs. Will never go anywhere else for my financial needs
Mark Winter
11/13/2024
Example scenario
Household income: $120,000 • Down payment: $80,000 • Debts: $600 car loan + $200 credit card
- With a 5.39% rate and 25-year amortization, estimated max purchase price: ~$650,000
- Monthly housing cost (mortgage + property tax + heat): ~$3,200
- Reduce debts or increase down payment to unlock more affordability.
This is for illustration only. Each lender applies different guidelines and may count income or debts differently.
Ready to see your real affordability?
We compare 100+ lenders and present clear options that fit your budget and goals.
Soft check • No impact on credit • FSRA-licensed
Mortgage Affordability FAQs
How do lenders calculate mortgage affordability in Canada?
Lenders use two ratios: Gross Debt Service (GDS) and Total Debt Service (TDS). GDS considers housing costs (mortgage, property tax, heat). TDS includes housing plus all other debts. Typically GDS must be under 39% and TDS under 44% of gross income.
Does debt affect how much mortgage I can get?
Yes. Car loans, student loans, credit cards, and lines of credit reduce affordability because they raise your TDS ratio. Paying down debt before applying can increase your approval amount.
How much down payment do I need?
In Canada, the minimum down payment is 5% on the first $500,000 and 10% on the remainder up to $1M. For homes over $1M, a 20% down payment is required. Our calculator lets you test different down payments instantly.
Can rental income help me qualify for more?
Some lenders count 50% to 80% of rental income, which can boost affordability. Policies vary, and Genesis will match you to lenders who factor in rental income if it applies to you.
What if rates rise after I buy?
Payments will increase at renewal if you’re in a variable or moving from a lower fixed rate. That’s why lenders apply a stress test — they qualify you at the higher of your rate + 2% or the benchmark rate set by OSFI. Our calculator includes stress testing.
