Canadian Mortgage Affordability Calculator
Find out how much home you can afford in Canada. This calculator applies the OSFI B-20 stress test, calculates your GDS and TDS ratios, estimates CMHC insurance, and shows first-time home buyer incentives.
Built for first-time home buyers across Canada
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Understanding Canadian Mortgage Affordability
Canadian lenders use two key ratios to determine how much you can borrow: the Gross Debt Service (GDS) ratio and the Total Debt Service (TDS) ratio. On top of that, the OSFI B-20 stress test requires you to qualify at a rate higher than your actual contract rate, ensuring you can handle potential rate increases. This calculator applies all of these rules to show your true maximum affordable home price.
What This Calculator Shows
- Maximum affordable home price based on your income
- GDS ratio with visual gauge (must be 39% or below)
- TDS ratio with visual gauge (must be 44% or below)
- CMHC insurance amount if down payment is under 20%
- Monthly payment breakdown (mortgage, tax, heating)
- OSFI B-20 stress test qualifying rate
- First-time home buyer incentives (FHSA, HBP, Tax Credit)
Key Canadian Mortgage Terms
- GDS: Gross Debt Service ratio — housing costs as a percentage of gross income (max 39%)
- TDS: Total Debt Service ratio — all debt payments as a percentage of gross income (max 44%)
- CMHC: Canada Mortgage and Housing Corporation — provides mortgage default insurance when down payment is below 20%
- Stress Test: OSFI B-20 rule requiring qualification at the higher of contract rate + 2% or 5.25%
- FHSA: First Home Savings Account — tax-advantaged savings for your first home (up to C$40,000 lifetime)
- HBP:Home Buyers' Plan — withdraw up to C$60,000 from your RRSP tax-free for a first home purchase
Your Privacy Matters
This calculator runs entirely in your browser. No personal or financial information is collected, stored, or transmitted. Your data stays on your device.
Disclaimer: This calculator provides estimates only and should not be considered financial advice. Actual mortgage approval depends on your credit score, employment history, property type, lender policies, and other factors. CMHC insurance premiums and stress test rules are subject to change by OSFI and CMHC. Always confirm figures directly with your chosen lender or a licensed mortgage broker before making borrowing decisions. SmartFinPro provides general financial information — we recommend consulting a licensed mortgage professional for personalized advice. This tool does not constitute an offer of credit or a pre-approval.
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