How much mortgage can I afford?

Estimate your maximum purchase price based on Canadian GDS and TDS qualifying ratios.

Your financial picture

Your gross annual income

$20,000$500,000

Co-applicant incomeleave at $0 if applying alone

$0$500,000

Monthly debt paymentscar loan, student loan, credit cards

$0$10,000

Down payment available

$5,000$1,000,000

Expected interest rate

0.5%15%

Amortization period

5 yrs30 yrs

Illustrative only. Uses simplified GDS (32%) and TDS (44%) ratios with estimated $600/mo property tax and heat. Actual lender qualification depends on your credit score, stress test rate (typically contract rate + 2%), property type, and other factors. This is not mortgage advice. Speak with a mortgage broker for a pre-approval.

Estimated maximum home price

$379,681

Max mortgage: $279,681 + $100,000 down

Monthly payment at maximum$1,667/mo

Binding constraintGDS

Down payment %26.3%

How this works

GDS limit (32%): Mortgage payment + property tax + heat must be under 32% of your gross monthly income ($7,083/mo = $2,267/mo max).

TDS limit (44%): All housing costs + other debts must be under 44% ($3,117/mo max). Your debts use $500/mo of that room.

Your GDS ratio is the binding constraint.

Protect what you buy

A life insurance policy sized to your mortgage protects your family if something happens to you.

Mortgage protection insurance