The Bureau
Oakwyn Realty Ltd.

Calculator

Affordability calculator

Work out the highest price a lender will actually approve, and see exactly which constraint is holding you back.

Your finances

$

Before tax, all borrowers combined

$
$

Car loans, credit lines, student loans, 3% of credit card balances

The mortgage

%

You will be qualified at 6.50%, the stress test

Amortization

Expected carrying costs

$
$

Lenders count half of this

$

You can likely afford up to

$826,000

18.2% down · 25-year amortization · insured

Down paymentFederal minimum here is $57,600$150,000
Mortgage principalIncludes $18,928 CMHC premium$694,928
Payment at your rateper month$3,846
Payment you must qualify atStress-tested at 6.50%$4,655
GDS / TDS at this priceLimits are 39% and 44%39.0% / 42.0%
Limited by your housing-cost ratio (GDS)Your mortgage, property tax, heat and half your strata fees reach 39% of gross income at this price. More income or a bigger down payment raises it; paying off other debts will not.

Cash you would need at closing

Down payment$150,000
Closing costsProperty Transfer Tax, legal, inspection, and the rest$18,945
Total cash required$168,945

Your entire down payment goes into the purchase, so you need a further $18,945 on top of it for closing costs. Budgeting the full down payment as the purchase price is the most common planning mistake we see.

See the full breakdown in the mortgage calculator.

An estimate of what lenders will approve, not a pre-approval. Uses CMHC ratio limits and the federal stress test as of 2024-04-01; individual lenders stretch these for strong credit. Speak to a broker before making an offer.

Want a real pre-approval?

We will connect you with a mortgage broker who can confirm your budget with a lender.

FAQ

Common questions

Lenders cap your housing costs at 39% of gross income (GDS) and your total debt payments at 44% (TDS), calculated at the stress-test rate rather than your actual rate. Your maximum price is whichever comes first: those ratios, your down payment, or the $1.5M insurance cap.

Almost always the stress test. You are qualified at your rate plus 2%, or 5.25%, whichever is higher — so at a 4.5% contract rate you must prove you could carry payments at 6.5%. That typically cuts buying power by 15 to 20%.

Only if TDS is your binding constraint. If GDS is the limit, clearing a car loan changes nothing and saving a larger down payment is what moves the number. This calculator names which one is stopping you.

5% on the first $500,000 and 10% on the portion between $500,000 and $1,500,000. Above $1,500,000 mortgage insurance is unavailable, so you need a full 20%. On a $900,000 home the minimum is $65,000.

Yes. Property Transfer Tax, legal fees, inspection, and — if your down payment is under 20% — the PST on your CMHC premium all come due on completion, in cash. On a $900,000 purchase that is often $20,000 to $30,000 beyond the down payment.

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Every tool on this site is built around British Columbia and federal rules, not generic templates.

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