This calculator helps you determine whether or not you can qualify for a home mortgage based on income and expenses.

To qualify for a mortgage loan at a bank, you will need to pass a “stress test”. You will need to prove you can afford payments at a qualifying interest rate which is typically higher than the actual rate in your mortgage contract.

You need to pass this stress test even if you don’t need mortgage loan insurance.

Credit unions and other lenders that are not federally regulated do not need to use this mortgage stress test.

You can always explore options of different lenders if you don't qualify with a bank.

The bank must use the higher interest rate of either:

  • 5.25%
  • The interest rate you negotiate with your lender plus 2%

If you already have a mortgage, you’ll need to pass this stress test if you:

  • Refinance your home
  • Switch to a new lender, or
  • take out a home equity line of credit

Check your Eligibility Now**

The minimum down payment must be at least 5% of the home's purchase price.

Property Information


Your Income and Anticipated Expenses


Mortgage Required

Request Amountquestion mark $200000.00 ($,25000.00 - $,5000.00)
Mortgage Loan Insurance Premiumquestion mark $0.00 ($200000.00 * 0.00%)
Total Mortgage Amount Requiredquestion mark $200000.00
FCAC (Financial Consumer Agency of Canada) uses a Gross Debt Service (GDS) ratio of 32% and a Total Debt Service (TDS) ratio of 40% in this tool as a guideline. You may still qualify for a mortgage even if your GDS and TDS ratios are slightly higher. However, higher GDS and TDS ratios mean that you are increasing the risk of taking on more debt than you can afford.

** We offer this mortgage calculator as a self-help tool for your use. This tool does not replace professional financial advice. We cannot guarantee that this calculator will apply or be accurate in your situation. For example, your mortgage lender may make its calculations in a different way. All calculations are examples only.

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