Affordability Calculator
Estimate a maximum price from your income and debts, then check the stress test, monthly costs and closing taxes. Figures are estimates. Your lender makes the final decision.
Your estimate
Enter your figures and calculate.
Stress test
Monthly costs at the maximum
| Mortgage payment (contract rate) | |
|---|---|
| Property tax | |
| Heating | |
| Condo fees | |
| Total monthly |
Closing taxes (Ontario)
| Provincial land transfer tax | |
|---|---|
| First-time provincial rebate | |
| Toronto municipal tax | |
| First-time Toronto rebate | |
| Estimated tax payable | |
| Cash needed at closing (down payment + tax) |
What the estimate assumes.
Maximum price. The largest price whose housing costs fit both the GDS and TDS limits, using the stress-test rate. Housing costs are the mortgage payment, property tax, heating, and half of condo fees.
Stress test. Lenders qualify you at the higher of your contract rate plus 2% or 5.25%. This calculator follows that rule. Confirm the current rule with OSFI Guideline B-20.
Insurance. A down payment under 20% requires mortgage default insurance. The premium is added to the loan using the same rates as the Canadian mortgage calculator.
Land transfer tax. Ontario tiers: 0.5% to $55,000, 1% to $250,000, 1.5% to $400,000, 2% to $2,000,000, and 2.5% above, with a first-time refund of up to $4,000. Toronto's municipal tax follows the same tiers up to $3 million, then 4.40% to 8.60% from April 1, 2026, with a first-time rebate of up to $4,475. Other provinces use the same rules as the land transfer tax calculator; Nova Scotia uses Halifax's 1.5% rate and Quebec the provincial brackets, and Quebec's first-home credit comes later through your tax return.
Not included. Other provinces, the 25% Ontario non-resident speculation tax for foreign buyers, insurance premiums paid in cash, legal fees and other closing costs, and rate changes after purchase. This is not pre-approval or financial advice.
Read the rules: Ontario land transfer tax explained, BC property transfer tax, Manitoba land transfer tax, Montréal and Québec transfer duties, and the mortgage stress test.