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How Much Mortgage Can I Afford in Ontario?
Estimate your maximum purchase price using stress-tested GDS and TDS guidelines — then download a personalized homebuyer report.
Your Household
Car loans, credit cards, lines of credit, student loans.
Estimated Purchase Price
$670,000
Estimated Down Payment
$85,000
Estimated Mortgage
$603,135
Estimated Payment
$3,436
Monthly
Your Scenario
- Household income (annual)
- $145,000
- Down payment available
- $85,000
- Other monthly debt payments
- $650
- Interest rate
- 4.79%
- Amortization
- 25 years
- Property tax (annual)
- $4,800
- Heating (monthly)
- $120
Estimated Affordability
Estimated Maximum Purchase Price
$670,000
Estimated Mortgage
$603,135
Estimated Down Payment
$85,000
Estimated Monthly Payment
$3,436/mo
Estimated GDS
38.6%
Estimated TDS
44.0%
Estimated Qualifying Rate
6.79%
These figures are estimates produced from the information entered and are not an approval or a guarantee of qualification.
Understanding Your Debt-Service Ratios
GDS — 38.6%
Near guideline (guideline up to 39%)
TDS — 44.0%
Near guideline (guideline up to 44%)
Gross Debt Service (GDS) compares certain housing-related costs with gross qualifying income. Total Debt Service (TDS) considers housing costs together with other debt obligations.
What this means
Your estimated ratios sit close to commonly used qualification guidelines. Small changes to the mortgage amount, other monthly obligations or the property's carrying costs could affect the result. Actual qualification depends on the lender, mortgage type, credit profile, income verification and other factors.
Compare Your Mortgage Scenarios
| Scenario | Purchase Price | Down Payment | Mortgage | Est. Payment |
|---|---|---|---|---|
| Conservative | $603,000 | $85,000 | $534,058 | $3,043/mo |
| Target | $670,000 | $85,000 | $603,135 | $3,436/mo |
| Higher Purchase Price | $737,000 | $85,000 | $672,212 | $3,830/mo |
Illustrative scenarios based on calculator assumptions.
How Your Down Payment Changes the Picture
| Down Payment | % of Price | Mortgage | Insurance | Est. Payment |
|---|---|---|---|---|
| $67,000 | 10.0% | $621,693 | $18,693 | $3,542/mo |
| $85,000 | 12.7% | $603,135 | $18,135 | $3,436/mo |
| $134,000 | 20.0% | $536,000 | Not applicable | $3,054/mo |
Illustrative down-payment levels based on calculator assumptions. Default-insurance eligibility depends on the property, purchase price, amortization and lender guidelines.
Mortgage Stress Test Snapshot
Contract Interest Rate
4.79%
Qualifying Rate
6.79%
Estimated Actual Payment
$3,436/mo
Estimated Qualifying Payment
$4,147/mo
Qualifying-rate assumption used: the greater of 5.25% or your contract rate plus 2%. As of: 2026-08-01.
Why this matters
Canadian qualification rules generally require your mortgage application to be assessed at a qualifying rate that is higher than the rate you would actually pay. The qualifying payment shown above is the payment used in that assessment, not the payment you would make.
Testing your file at the higher rate is a way of checking whether the mortgage would still be manageable if rates were higher at renewal. Actual requirements vary by lender, mortgage type and whether the mortgage is insured.
What This Means for You
Based on the information entered, your estimated maximum purchase price is approximately $670,000 with a mortgage of about $603,135. A full mortgage assessment would still be required to verify income, credit, debts, property details and lender requirements.
In this scenario your other monthly debt obligations are the main limiting factor. Reducing or restructuring certain debts may change the overall picture.
Your estimated ratios sit close to commonly used qualification guidelines. Small changes to the mortgage amount, other monthly obligations or the property's carrying costs could affect the result. Actual qualification depends on the lender, mortgage type, credit profile, income verification and other factors.
Your Pathway to Homeownership Starts With Understanding Your Numbers
Your calculator results are estimates. Nandan Bajani can help you review your situation and understand your mortgage options.
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Related Resources
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