Landmark Mortgages
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Affordability calculator

Estimate the size of mortgage you can get approved for.

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Car loans and leases, credit card and line of credit minimums, student loans, support payments. Not rent, groceries or utilities.

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Advanced · lender ratios and assumptions

39% and 44% are the insured ceilings. Lenders set their own, and a strong file can go higher, so change these to match the lender you're working with.

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Leave blank to use the stress test: the greater of your rate plus two points and 5.25%, which is 6.5% here.

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Home price you can affordThe purchase price, not the mortgage amount

$587,000

Down payment (13.63%)
$80,000
Mortgage before insurance
$507,000
Mortgage insurance (3.1%)
$15,717
Total mortgage
$522,717

Monthly

Your payment, at 4.5%Principal and interest
$2,893.10
Qualifying payment, at 6.5%What the ratios are tested on
$3,501.28
Property tax, estimated
$244.58
Heat
$150
Other debt payments
$500

How the ratios land

GDS, housing costs

39.0% of 39%

TDS, housing plus debtssets your limit

44.0% of 44%

GDS is housing cost against gross income. TDS adds every other debt payment. A lender has to pass both, so the tighter one is what decides the number above.

  • Your down payment reaches a home price of $1,050,000, so income is what limits you here, not savings.

An estimate, not an approval. A real approval depends on your credit, how your income is documented, the property itself and the lender's own ratios, which this calculator lets you change under Advanced. Property tax and heat are estimates; a condo fee and an acreage's well and septic can both move the answer. Qualifying uses the stress test under OSFI guideline B-20.