YOUR NEXT CHAPTER, CONSIDERED

Prepare for the lender conversation.

Organize the income, debts and housing costs behind a pre-approval discussion. No application is made here.

YOUR WORKSHEET

Do I pass the mortgage stress test?

Gross income (yearly) ($)Other debt payments (monthly) ($)Mortgage amount ($)Contract rate (%)AmortizationFirst-time buyer

A useful detail

This model keeps the selected rates constant. Default values are fictional assumptions, not offers or live rates. Read every warning and confirm location, timing, contract terms and any eligibility conditions against the official sources below. No lender decision or recommendation is made.

You don't pass yet

6.29%

Qualifying rate

GDS at the qualifying rate39.54%limit 39%

TDS at the qualifying rate43.36%limit 44%

Payment you'd actually make$2,601

Payment the lender tests$3,154

Income needed to pass$111,517

Largest mortgage that passes$472,498

Keep the method beside the result.

Worksheet: Mortgage stress test calculator. Rule set recorded 2024-11-21. Interest, fees, eligibility constraints and local rules vary. These references explain the model’s boundaries; they do not establish that an input matches your situation.

OSFI · Minimum qualifying rate for uninsured mortgages OSFI · OSFI exempts uninsured mortgage straight switches from prescribed MQR; implements portfolio LTI limits Department of Finance Canada · Statement on the Canadian housing market (insured MQR; switching at renewal) CMHC · Calculating GDS / TDS

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