Qualification
Maximum Mortgage Amount
The most you can borrow based on your income, debts, and Ontario lender ratios. Includes the 5.25% stress test by default.
Half of condo fees are counted toward GDS per common lender practice. Stress test uses your qualifying rate; many lenders enforce the greater of 5.25% or contract rate + 2%.
Would you like help with these numbers?
Calculators use general assumptions. Athena can review your numbers and explain lender rules, qualification questions or options the estimate may not cover.
What this calculator helps you explore
The largest mortgage your income and existing debt payments can support, and how the debt-service ratios and the qualifying rate move that ceiling.
What the estimate considers
- Household income before tax
- Monthly debt payments you already carry
- Property taxes, heating and half of condo fees, per common lender practice
- The GDS and TDS limits and amortization you select
- A qualifying rate rather than a rate you might be offered
What it may not capture
- How a specific lender treats self-employed, commission, rental or bonus income
- Credit history, beacon score minimums and program eligibility
- Down payment source, insurer rules and property type restrictions
- Lender-specific policy on debts such as student loans or secured lines of credit
A practical example
A household with $150,000 of income and $600 of monthly debt payments sees the ceiling fall noticeably when the qualifying rate is raised, even though nothing about their income changed. That gap is the stress test at work.
Assumptions and sources
- Canadian semi-annual compounding
- Half of condo fees counted toward GDS
- GDS, TDS, amortization and qualifying rate are all yours to change
Content placeholder for Athena: Confirm the default qualifying rate and the GDS and TDS defaults you want shown, and whether the greater of 5.25% or contract rate plus 2% should be described on this page.
Last reviewed: pending Athena's review