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How much home can you afford?

This calculator estimates the highest price a lender might approve for a home in Ontario, based on your income, debts and down payment. It uses the mortgage stress test.

Car loans, credit cards (3% of balance), lines of credit, support

Lenders count half

We test you at your rate + 2%, or 5.25% if higher.

Enter the interest rate you've been quoted to see what you could qualify for.

How this tool works

  • Stress test: you qualify at the greater of your rate + 2% or 5.25% (OSFI minimum qualifying rate; unchanged at its January 2026 review).
  • Debt-service limits: housing costs up to 39% of gross income (GDS) and all debts up to 44% (TDS). These are CMHC's limits for insured mortgages; the calculator uses them for every case. Lenders of uninsured mortgages set their own, often similar. Reference: CMHC's debt service calculator and its GDS/TDS page, cmhc-schl.gc.ca.
  • Housing costs = mortgage payment at the stress-test rate + property tax + heating + half of condo fees.
  • The down payment must meet the federal minimum for the price, and any default-insurance premium is added to the mortgage.
  • Credit history, the property itself and your documents also matter. A real pre-approval is subject to lender approval.

Rules checked 2026-10-23. Estimates only, not an offer or advice; a licensed broker confirms the numbers and every mortgage is subject to lender approval. Everything is calculated in your browser. The amounts you type are never sent to us.

Questions about the affordability tool

What is the mortgage stress test?

A federal rule that makes you prove you could afford your payments at a higher rate: the greater of your contract rate plus two percentage points, or 5.25%. It applies when you buy or refinance with a federally regulated lender.

What are GDS and TDS?

Gross debt service (GDS) is your housing costs as a share of gross income. Total debt service (TDS) adds your other debt payments. Lenders cap both; this calculator uses 39% and 44%.

Should I borrow the maximum?

Not necessarily. The maximum is what a lender may allow, not what fits your budget. Leave room for savings, childcare, repairs and rate changes at renewal.

More tools: Mortgage payment · Land transfer tax · Default insurance (CMHC) premium · Stress test · Closing costs

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A tool can only estimate. Tell us your plans and we'll come back with options from actual lenders — no cost to talk.

You can also call us at (416) 371-2077.

What are you looking to do?
Roughly how large is the mortgage?

Optional

We use these details to call you back about your mortgage, and store them in Canada. If we introduce you to a partner broker, we tell you first and share only what you have given us here. See our privacy policy. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722. A pre-approval or quote is subject to lender approval.