Homebuyer Journey
New to buying? Go step by step. Enter your numbers once and we'll carry them through — from whether you qualify, to your payment, down payment plan, and closing costs.
Step 1 of 4: Can you qualify?
Can you qualify?
Start here: your income and target price show whether you pass the mortgage stress test.
Your credit score matters too
For an insured mortgage (under 20% down), CMHC generally wants at least one borrower around 600+. Other insurers and lenders set their own minimums, and alternative lenders may go lower at higher rates. You can get your credit report free at myequifax.ca. Educational guidance only — not a lender decision.
Your Income
Property & Mortgage
Monthly Housing Costs
Enter 0 if not a condo
Your Other Debts
These only affect your TDS. Get your GDS working first — if the home fits your income before debt, then we add debt to check TDS.
You Don't Qualify at This Price
At the stress test rate of 6.99%, your ratios exceed lender limits.
Here's how to qualify:
Option A: Reduce Home Price
Lower your target price by:
−$97,747
New target: $502,253
Option B: Increase Your Income
You need more annual income to qualify:
+$21,047/yr
Combined income needed: $121,047
Qualification Ratios
GDS
Housing Costs / Income
$3,934 housing / $8,333 income
TDS
All Debts / Income
Add your monthly debts below to evaluate TDS.
39% GDS / 44% TDS are the CMHC insured maximums and the standard benchmark — not a hard cap for every lender. Some uninsured or alternative ("B") lenders accept higher ratios with strong credit or more down. This is a ratio screen, not a lender approval: credit, income verification, and property still apply.
Payment Comparison
The monthly buffer the stress test protects against: $570/month (difference between your contract payment and the payment at the OSFI qualifying rate of 6.99%).
(at stress test rate)