Home Affordability Calculator

How Much House Can You Afford?

This calculator uses the Gross Debt Service (GDS) and Total Debt Service (TDS) ratios used by Canadian lenders to determine your maximum home purchase price. Canadian lenders typically require GDS ≤ 39% and TDS ≤ 44%, though some lenders may be more flexible.

Your Income

Annual Gross Income

Co-Applicant Income (Optional)

Your Debts

Monthly Car Payment

Monthly Credit Card Payments

Other Monthly Debt Payments

Monthly Condo Fees (if applicable)

Down Payment & Mortgage Details

Down Payment Available

Interest Rate (%)

Amortization Period

Property Tax Rate (%)

Estimated Monthly Heating Cost

Maximum Home Price You Can Afford

Based on Canadian lending standards (GDS & TDS ratios)

Maximum Mortgage Amount $0

Down Payment $0

Estimated Monthly Payment $0

Debt Service Ratios

Gross Debt Service (GDS)

Housing costs / Income (max 39%)

Good

Total Debt Service (TDS)

All debts / Income (max 44%)

Good

Monthly Housing Costs Breakdown

Mortgage Payment (P&I) $0

Property Tax $0

Heating $0

Condo Fees $0

CMHC Insurance $0

⚠️ Important Information: This calculator provides estimates based on standard Canadian lending criteria. Actual qualification amounts depend on your credit score, employment history, and specific lender requirements. The maximum GDS ratio is typically 39% and TDS ratio is 44%, but these may vary by lender. You must also pass the mortgage stress test at the higher of your contract rate + 2% or 5.25%. Always get pre-approved before house hunting.