The same math a lender runs on your file — GDS, TDS, stress test, CMHC premium. Built for Ontario buyers, including self-employed.
All fields update results in real time. Defaults reflect typical Ontario figures.
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Stress test: Every federally-regulated lender qualifies you at the higher of your contract rate plus 2% or 5.25%. Your real payment uses your contract rate — but your approval limit uses the qualifying rate.
GDS / TDS: Gross Debt Service includes mortgage payment, property tax, heating, and 50% of condo fees. Total Debt Service adds all other monthly debt obligations. Insured (CMHC) files cap at 39% / 44%. Uninsured files can stretch to 44% / 50% with the right lender.
CMHC premium: Applies when your down payment is under 20%. The premium is added to your mortgage balance, not paid up front. Insurable max price in Canada is $1.5M (as of December 2024).
Minimum down payment: Canadian rules require 5% down on the first $500,000, 10% on the portion between $500k and $1.5M, and 20% on homes above $1.5M. This calculator applies the minimum automatically based on the max price you qualify for. Your entered down payment only pushes the max price higher when it exceeds the minimum at that tier — otherwise the minimum is used.
Self-employed: If you write off heavily, traditional lenders look at net income — which often kills your application. B-lenders and stated-income programs use gross revenue, deposit history, or 1.5× net. That's where most BFS files actually get approved.
This calculator gives you a planning estimate. I give you a lender, a rate, a closing date, and a strategy that fits your file.