How much can I afford?
What you could qualify for, using the real stress test and debt limits.
Estimate: homes up to about
$417,500
- Mortgage
- $403,000
- Payment at your rate
- $2,230 /mo
- Qualifying rate (stress test)
- 6.50%
- Insurance premium
- $15,500
What this means
Lenders test you at 6.50%, not your 4.50%. At that rate, your housing costs can take up to 39% of your income and all your debts up to 44%.
Your housing costs are what's holding the number. That's the gross debt service limit.
With under 20% down, the mortgage is insured. The $15,500 premium is added to it, and the amortization is capped at 25 years.
Estimates only. This isn't advice, a rate quote or a pre-approval. Your real numbers depend on your lender and your approval. Uses CMHC's insured limits. Lenders set their own for uninsured mortgages.
Rules last verified: November 3, 2026
Sources and assumptions
- OSFI, Minimum qualifying rate for uninsured mortgages (modified 2026-01-29)
- CMHC, Calculating GDS and TDS (39% / 44%, qualifying rate, condo fees, revolving credit)
- CMHC, Premium information for homeowner and small rental loans
- CMHC, Home Start (minimum equity 5% of the first $500,000 and 10% of the rest, price below $1.5M, 30-year premium table, first-time buyer definition)
- Department of Finance, mortgage reforms (30-year amortization, $1.5M cap, from Dec 15, 2024)
- FCAC, Minimum down payment (modified 2025-10-15)
- Uninsured straight switches at renewal (same amortization and loan amount) don't need the qualifying rate (OSFI).
- 39% and 44% are CMHC's insured limits. Lenders set their own limits for uninsured mortgages.
- The FCAC page still says insurance isn't available at $1 million or more. CMHC and Finance both state the $1.5M cap, so the calculator uses $1.5M.
- Premiums shown are CMHC's. Sagen and Canada Guaranty publish their own tables, which weren't checked.
- No provincial sales tax on the premium in BC.
Other calculators
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