How Much Mortgage Can I Afford?
Stress test included · GDS 39% / TDS 44% limits
Your Financial Details
(higher of contract rate + 2% or 5.25%)
Maximum Mortgage
$465,602
Qualifying rate: 7.25% · 25-year amortization
Max Purchase Price
$545,602
mortgage + down payment
Est. Monthly Payment
$2,775
at 5.25% contract rate
Ratio Summary
Limit hit: GDS ratio: housing costs relative to income
Your Max vs Ottawa Average
These numbers are a starting point. Book a free call and Jessy will tell you exactly what you qualify for.
Book a Free Call with JessyHow Affordability Is Calculated
Canadian lenders use two ratios to determine your maximum mortgage:
- GDS (Gross Debt Service): Housing costs (mortgage P+I, property tax, heat, 50% of condo fees) divided by gross monthly income. Maximum: 39%.
- TDS (Total Debt Service): All housing costs plus all other monthly debt payments divided by gross monthly income. Maximum: 44%.
The stress test requires you to qualify at the higher of your contract rate + 2% or 5.25%. This means if your actual rate is 4.89%, you must qualify at 6.89%. This calculator uses the stress test rate to compute your maximum mortgage, matching what lenders will actually approve.
Heat is estimated at $150/month for GDS calculation purposes, consistent with standard lender practice.
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