Affordability calculator

Start from income, not wishful pricing.

This calculator works backwards from income, debt, and recurring housing costs so the ceiling reflects how lenders qualify mortgages, not just what feels manageable at first glance.

Uses the higher of 5.25% or contract rate plus 2%.
Applies 39% GDS and 44% TDS guardrails.
Down payment, condo fees, and heating costs all push the result materially.
Inputs
Income, debt, and housing costs
Qualification is based on editable example rates, not live market pricing. Defaults last updated April 18, 2026.
Results
Qualification view
This uses 39% GDS, 44% TDS, and the standard qualifying-rate rule.

Maximum home price

$944,385

Estimated ceiling with the current debt and down payment

Qualifying rate

6.79%

Higher of 5.25% or contract rate plus 2%

Qualifying payment

$5,843

Used in the debt-service tests

Contract-rate payment

$4,842

What the payment looks like at the entered rate

Maximum housing budget
$5,843
GDS ratio
38.6%
TDS ratio
44.0%
Down payment used
$120,000
Default insurance premium
$25,556
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Next move
Pressure-test the shortlist
Once you have the ceiling, most buyers jump to payment and transfer tax to understand what the monthly and closing picture looks like.
Run mortgage paymentCheck Toronto land transfer tax
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Assumptions
How this version behaves
The inputs are flexible, but the rules are intentionally explicit so the outputs stay interpretable.
The calculator is a planning tool and not a lender pre-approval.
Property taxes, heating, and 50% of condo fees feed into qualification math.
The result assumes monthly mortgage payments for qualification even if you later choose a different payment cadence.
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FAQ
What buyers usually ask next
This content is there to make each calculator page useful as a landing page, not just a widget shell.