The Affordability & Stress-Test Checker

What will a lender actually say? Run the real math — the stress test, the insurance premium, the minimum down payment and the 39% / 44% ratios — before you fall in love with a listing.

Home price ($)

Your down payment ($)

Your mortgage rate (%)

Amortization

Gross household income ($/year)

Property tax ($/month, ≈0.8–1%/yr typical)

Other monthly debt payments ($)

Condo fees ($/month, if any — 50% counted)

Heating is baked in at $150/mo (the standard PITH treatment). The rate field is yours to set — we don't quote live rates. Insurance applies below 20% down; below the minimum down payment there's no insurance at all.

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Minimum down payment for this price

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CMHC insurance premium

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Mortgage amount

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Payment at your rate

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The stress-test rate

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Payment at the stress-test rate

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GDS — housing costs vs income

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TDS — all payments vs income

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Max mortgage this income supports

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Max purchase price (same down payment)

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Pre-approval is not approval — the FCAC says so plainly, and property or file changes can re-open everything. Closing costs are the other cash you need on day one — run the Closing-Cost Calculator next.

Sources & assumptions

Minimum down payment (5% of the first $500k + 10% of the remainder), the under-$1.5M insurable ceiling, 25/30-year amortization, GDS 39% / TDS 44%, the greater of (rate + 2%) or 5.25%, and the premium table (0.60–4.00%, 4.50% non-traditional): CMHC — Purchase (verified Oct 2026).
At $1.5M and above, no insurance — 20%+ down and an uninsured mortgage. Energy-efficient homes may qualify for a 25% premium refund (CMHC Eco Products).
Pre-approval ≠ approval; rate holds run 60–130 days: FCAC — Getting preapproved for a mortgage.
Simplifications: heating $150/mo; condo fees counted at 50% in TDS; lender-specific criteria, credit (min 600 for CMHC) and other debts vary. Estimates only — not a pre-approval, not advice; your lender's actual test is the final word.

What next?

Budget the rest of the cash: the Closing-Cost Calculator — land transfer tax, legal fees, everything on closing day.
Strengthen your position: score your negotiability with the Leverage Scorer.
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