Mortgage Affordability Calculator

3 min

Estimate how much home you might qualify for with Canadian GDS and TDS rules.

CanadaNo account required

Estimated home price you could support

$578,356

A mortgage of about $458,356 plus your $120,000 down payment, at 4.7% over 25 years.

Housing costs set the limit

The 35% housing cost (GDS) rule caps your payment at $2,600.

Your other debts are not the binding constraint today.

What makes up the price

Mortgage$458,35679%
Down payment$120,00021%

Where your monthly income goes

$9,000/ month gross

Mortgage payment$2,60029%
Tax, heat and fees$5506%
Other debt payments$5006%
Left for everything else$5,35059%

Qualifying ratios

GDS limit (35% of income)$3,150

Maximum payment under GDS$2,600

TDS limit (42% of income)$3,780

Maximum payment under TDS$2,730

The lower of the two applies$2,600

Mortgage each rule supports

Supported by GDS$458,356

Supported by TDS$481,273

Mortgage you could carry$458,356

Estimates are based on the information and assumptions you provide and are for educational purposes only. This is not financial, tax, legal or lending advice.

What this means

GDS and TDS measure housing cost and total debt burden against gross income. The lower of the two determines what is more likely to qualify.
A larger down payment increases the purchase price you may be able to afford.

Price out a specific home

Assumptions & methodology

Property tax, heating and condo fees are stable.
No additional debt or housing costs are added after qualification.
Actual lender approval may vary depending on credit, employment history, and documentation.

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