Toolkit

Affordability Calculator

Canadian rules: semi-annual compounding, GDS/TDS ratios, federal stress test (higher of rate + 2% or 5.25%), CMHC minimum down payment.

Gross household income (annual)

$120,000

Other monthly debt payments (car, LOC, student)

$500/mo

Down payment saved

$80,000

Expected mortgage rate (%)

5.5%

Amortization (years)

25 yrs

Estimated max purchase price

$408,068

Stress-tested at 7.50% · 25-yr amort

Max mortgage (stress-tested)

$328,068

Actual monthly payment at 5.5%

$2,002/mo

Semi-annual compounding (Canadian Interest Act)

CMHC minimum down payment

$20,403

✓ Your down payment meets CMHC minimums

Illustration only — not a mortgage pre-approval. Canadian mortgages use semi-annual compounding per the Interest Act. GDS limit 32%, TDS limit 44%, stress test at higher of rate + 2% or 5.25%.

William refers all buyers to Matthew Pickering, National Bank of Canada — 905-802-7788.