Mortgage readiness estimator

Educational payment and debt-service ratios from numbers you enter. Assumed contract rates are editable defaults — not live lender quotes. No credit report is accessed.

Not an approval or qualification decision. We are not a lender or mortgage broker. Canada: payments use nominal rates compounded semi-annually (common Canadian mortgage convention); stress/qualifying rate uses OSFI’s published MQR structure (buffer 2% / floor 5.25%, official page checked 2026-11-05). US: payments use monthly compounding; DTI bands follow CFPB educational guidance. Individual lenders set their own criteria.

Currency: CAD

Your inputs

Gross annual household income

Home price (optional buying-power helper) Down payment Assumed contract annual interest rate (%)

You set this assumption. It is not today’s market rate from this site.

Amortization / loan term (years) Monthly property tax (estimate) Monthly heating / homeowners insurance (estimate) Monthly condo / HOA fees (if any) Other monthly debt payments

Car loans, student loans, minimum card payments, etc.

Canada: qualifying rate uses the higher of (assumed contract + 2%) or 5.25% floor (OSFI MQR; checked 2026-11-05). Payment amortization for Canada uses semi-annual compounding; US uses monthly.

Estimate

Enter values to calculate.

Methodology sources

OSFI — Minimum qualifying rate (greater of contract + 2% or 5.25%): osfi-bsif.gc.ca
FCAC — GDS ≈ 39% and TDS ≈ 44% educational guidance: canada.ca
CMHC — Calculating GDS/TDS: cmhc-schl.gc.ca
CFPB — Educational mortgage / total DTI guidance (≈28–35% housing; ≈36% total often cited): consumerfinance.gov PDF