FinoGet startedMortgage Affordability Calculator
3 minEstimate how much home you might qualify for with Canadian GDS and TDS rules.
$578,356
A mortgage of about $458,356 plus your $120,000 down payment, at 4.7% over 25 years.
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
Mortgage each rule supports
Keep going
Qualifying for $578,356 and affording it are different questions.
GDS and TDS use gross income and a fixed set of debts. They know nothing about what you actually spend. Fino answers the second question from your real cash flow.
- See what is left after $550 a month in housing costs
- Existing debt payments tracked as they change, not fixed at $500
- Down payment progress toward $120,000, across every account holding it
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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.
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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Common questions
What people ask most about the Mortgage Affordability Calculator.
What are GDS and TDS ratios?
Gross Debt Service is your housing costs — mortgage payment, property tax, heat and half of any condo fees — as a share of gross income. Total Debt Service adds every other debt payment, including car loans, student loans and credit card minimums. Insured mortgages are typically held to a GDS around 39% and a TDS around 44%, and some lenders apply tighter limits.
What is the mortgage stress test?
Federally regulated lenders must qualify you at the greater of your contract rate plus two percentage points or a benchmark rate set by the regulator, rather than at the rate you will actually pay. It exists so borrowers can still afford the payment at renewal if rates have risen, and it is the single biggest reason people qualify for less than they expect.
What is the minimum down payment in Canada?
The floor is tiered: 5% on the first portion of the price, 10% on the portion above that first threshold, and 20% once the price exceeds the cap for insurable mortgages. Both the thresholds and the cap have been changed by the federal government several times in recent years, so confirm the current figures before relying on them.
Does this mean a lender will actually approve me?
No. This is an estimate from the ratios, not an assessment. A real approval also weighs your credit score, how long and how reliably you have been employed, whether your income is salaried or self-employed, the down payment's source, and the lender's own appraisal of the property.