Mortgage Affordability Calculator — Canada 2026
Enter any home price and instantly see the income required, down payment needed, and whether you'd pass the OSFI stress test — at 5%, 10%, and 20% down simultaneously.
The mortgage stress test means most Canadian buyers qualify for 20–25% less than they expect. See where you stand.
What This Calculator Does
Most mortgage calculators tell you a monthly payment. ClearKey tells you whether you'd actually qualify — which is a completely different question. Canadian lenders don't approve you based on your actual mortgage rate. They use the mortgage stress test Canada 2026 qualifying rate, which is approximately 6.59% even if you'll pay 4.59%.
This calculator runs the full stress test math for you. Enter a target home price and it shows you three scenarios side by side — the minimum income required, the down payment amount, CMHC insurance premiums, and your projected GDS and TDS ratios. If your ratios are offside, it tells you exactly why and what to fix.
How Canadian Lenders Determine Affordability
Affordability in Canada isn't just about whether you can make the payments. Lenders must verify that your GDS ratio (housing costs ÷ gross income) stays under 39% and your TDS ratio (housing costs + all debts ÷ gross income) stays under 44% — both calculated at the stress test rate. This is why most Canadians qualify for 20–25% less than they expect.
The stress test rate is the greater of 5.25% or your contract rate plus 2%. At current 5-year fixed rates of approximately 4.59%, the effective qualifying rate is 6.59%. This single rule is the biggest constraint on what Canadian buyers can afford. Learn more in our mortgage stress test Canada 2026 guide.
How Much Income Do You Need to Buy a House in Canada?
Your income is the ceiling on what you can borrow. A household earning $120,000 with minimal debt qualifies for roughly $580,000–$620,000 after the stress test. Every $500/month in existing debt payments costs you $60,000–$80,000 in purchasing power. See the full breakdown at every price point in our income needed to buy a house in Canada guide.
Ready to see your numbers? ClearKey runs the full stress test, calculates CMHC premiums, and shows you exactly what you need to qualify.
Open Full Calculator →This calculator is for educational purposes only and does not constitute financial, mortgage, or legal advice. Results are estimates based on standard Canadian qualification rules and current stress test rates. Actual qualification depends on individual circumstances, lender policies, and property specifics. Always consult a licensed mortgage professional. ClearKey is not a licensed mortgage brokerage.