How much home can you afford on your salary? This works backwards from your income using Canada's GDS (39%) and TDS (44%) limits — and it qualifies you at the stress-test rate, not your contract rate, just like a lender does.
Lenders use two ratios. GDS (Gross Debt Service) caps your housing costs — mortgage payment, property tax, heating, and half of any condo fees — at 39% of your gross income. TDS (Total Debt Service) adds your other debts and caps everything at 44%. Whichever cap is tighter is the one that decides your maximum.
The catch most first-time buyers miss: your payment is tested at the qualifying rate — the higher of 5.25% or your contract rate plus 2% — not the rate you'll actually pay. That's why you can often "afford" less house than a simple payment calculator suggests.
Your exact payment with Canadian semi-annual compounding, all frequencies, CMHC insurance and a full amortization schedule.
Open calculator →Your qualifying rate, the payment you're actually tested on, and a clear pass/fail under the federal B-20 rules.
Open calculator →Rent or buy in the GTA? The true net cost of each — land transfer tax and CMHC included — over your time horizon.
Open calculator →Ontario + Toronto land transfer tax, first-time buyer rebates, minimum down payment and CMHC premium in one estimate.
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