Canada Mortgage Stress Test Calculator

Estimate a Canadian qualifying rate and mortgage budget with separately calculated GDS and TDS limits.

Annual gross household income

CAD

Mortgage contract rate

Down payment

CAD

Amortization period

Monthly property taxes

CAD

Monthly heating costs

CAD

Monthly condo fees

CAD

The planning model includes 50% of entered condo fees in GDS and TDS housing costs.

Other monthly debt payments

CAD

Include recurring obligations such as car, student, line-of-credit, credit-card, or support payments.

Contract rate and qualifying rate

A lender offers the contract rate used for the actual mortgage payment. The federal stress test uses a higher qualifying rate: the greater of the contract rate plus two percentage points or the current 5.25% floor. The calculation keeps these two payments separate.

OSFI: current minimum qualifying rate

How to enter the affordability inputs

Enter gross household income, the offered contract rate, and down payment.
Select the amortization period used to estimate monthly payments.
Add monthly property taxes, heating costs, and full condo fees.
Add other recurring debt payments, then run the stress test.

How GDS and TDS limit the budget

GDS includes the mortgage payment at the qualifying rate, property taxes, heat, and 50% of condo fees. TDS includes the same housing costs plus other monthly debts. The calculator uses the smaller available mortgage-payment budget from the 39% GDS and 44% TDS planning limits.

FCAC: preparing to get a mortgage

Example result

With 120,000 CAD of annual income, a 5.2% contract rate, 100,000 CAD down, 300 CAD property tax, and 150 CAD heat, GDS limits the qualifying mortgage payment to 3,450 CAD per month. At the 7.2% qualifying rate over 25 years, the modeled purchase-price ceiling is about 571,000 CAD after including the financed standard insurance premium.

What the estimate cannot approve

This calculator is not a pre-approval. Lenders verify income, credit, debt treatment, property, final mortgage-insurance eligibility, down-payment sources, and product-specific amortization rules. Insured mortgages and special programs may have additional requirements. A qualifying uninsured straight switch at renewal can be exempt from OSFI’s prescribed MQR, but underwriting still applies.

Frequently Asked Questions

Which interest rate does the Canadian stress test use?

The current minimum qualifying rate is the greater of the contract rate plus two percentage points or 5.25%. The calculator resolves both values from the dated Canadian rule record.

What are GDS and TDS?

GDS compares qualifying mortgage payments and eligible housing costs with gross income. TDS adds other monthly debt payments. This planning model uses 39% for GDS and 44% for TDS.

Which housing costs are included?

The calculator includes your monthly property tax and heating entries plus 50% of entered condo fees. It does not invent regional averages.

Which other debts should I enter?

Enter recurring monthly obligations such as car and student loans, lines of credit, credit-card payments, and child or spousal support. A lender decides the exact treatment.

Does the stress test apply to refinancing or renewal?

Federal guidance says refinancing and home-equity borrowing require the stress test. OSFI does not prescribe the MQR for a qualifying uninsured straight switch at renewal with no amortization or loan increase, though lender underwriting still applies.

What rule date does this calculator use?

The federal minimum qualifying rate and the FCAC debt-service planning guidance were verified on July 29, 2026. The source register is reviewed when the rules change and at least annually.