HB Mortgage Centre

Mortgage Affordability Calculator

Get an estimate of how much home you might afford in Ontario, including the effect of the mortgage stress test. This is an estimate to help you plan, not an approval or a pre-approval. Since December 2021, HB Mortgage Centre has funded over $1 billion in mortgages through more than 50 lenders.

Written by the HB Mortgage Centre team. Reviewed by Hardeep Batoo, Principal Broker (licence M13002408). HB Mortgage Centre is an FSRA-licensed brokerage (#13449). Last updated: June 23, 2026.

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Estimate your affordable purchase price

Car loans, student loans, credit cards, etc.

Minimum 5% of purchase price (insured). 20% or more avoids CMHC insurance.

Your expected mortgage rate. The stress test qualifies you at a higher rate.

Lenders include 50% of condo fees in GDS.

Estimated Results

Estimated max purchase price

$516,240

Estimated max mortgage

$470,383

Includes CMHC insurance of $14,143

Estimated monthly payment

$2,787

At your contract rate of 5.19%

Stress test qualifying rate

7.19%

Higher of contract rate + 2% or 5.25%

GDS ratio

39.0%

Gross Debt Service - target at or below 39%

TDS ratio

44.0%

Total Debt Service - target at or below 44%

This is an estimate only. Subject to qualification. Not an offer or approval. Qualifying is at the stress-test rate (7.19%); your actual payment uses your contract rate (5.19%).

Estimate only. Not an approval or pre-approval. Subject to qualification, credit review, and lender assessment under the stress test.

How to use it

Enter your income, your monthly debts, and your down payment, then a rate. The estimate accounts for the stress test, which qualifies you at a higher rate than your actual rate. Add property tax, heating, and condo fees for a more realistic picture, since lenders include them.

A note on affordability

What a lender will offer and what you can comfortably carry are not the same. Treat this estimate as a ceiling for planning, not a target. The honest budget is the payment that fits your life.

What it does not do

This calculator does not approve or pre-approve you. Treat the number as a planning ceiling, not an approval: what you actually qualify for depends on your credit, your documented income, and the lender's rules under the stress test.

GDS & TDS ratios

The GDS (Gross Debt Service) ratio measures housing costs against gross income. The TDS (Total Debt Service) ratio adds all other debts. Most lenders look for GDS at or below 39% and TDS at or below 44%, measured at the qualifying rate.

The stress test

The stress test qualifying rate is the higher of your contract rate plus 2%, or 5.25%. Lenders use this rate to calculate the ratios, not the rate on your actual mortgage.

Affordability calculator questions

Related calculators and guides

Mortgage approvals, rates, terms, products, fees, and available lender options are subject to lender approval, borrower qualification, property review, market conditions, documentation, title review, and applicable laws. O.A.C. E.&O.E. HB Mortgage Centre is an FSRA-licensed Ontario mortgage brokerage, FSRA Brokerage #13449. Each Mortgage Centre is independently owned and operated. This website provides general information only and does not provide legal, tax, financial planning, estate planning, investment, accounting, or benefits advice. For legal matters, speak with an Ontario lawyer. For tax, estate, benefit, investment, or accounting questions, speak with a qualified advisor before making a decision.

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Get pre-approval guidanceFirst-time home buyer guide