This calculator works out the most you can spend on a home from your household income, your savings for a down payment and your other debts. It applies the rules lenders use: the mortgage stress test, CMHC’s debt service limits and the federal minimum down payment.
How much mortgage can I afford on my salary?
Each row is the most expensive home that household income qualifies for, first with the smallest down payment the rules allow, then with 20% down, where no mortgage insurance is needed. The down payment and premium columns show what that top price takes.
| Household income | Most you can spend, minimum down | Down payment needed | CMHC premium (added to the loan) | Most you can spend, 20% down | Savings needed for 20% |
|---|---|---|---|---|---|
| $40,000 | $160,000 | $8,000 | $6,080 | $185,000 | $37,000 |
| $50,000 | $205,000 | $10,250 | $7,790 | $238,000 | $47,600 |
| $60,000 | $250,000 | $12,500 | $9,500 | $290,000 | $58,000 |
| $70,000 | $295,000 | $14,750 | $11,210 | $343,000 | $68,600 |
| $75,000 | $318,000 | $15,900 | $12,084 | $369,000 | $73,800 |
| $80,000 | $341,000 | $17,050 | $12,958 | $395,000 | $79,000 |
| $90,000 | $386,000 | $19,300 | $14,668 | $448,000 | $89,600 |
| $100,000 | $431,000 | $21,550 | $16,378 | $501,000 | $100,200 |
| $120,000 | $523,000 | $27,300 | $19,828 | $606,000 | $121,200 |
| $150,000 | $665,000 | $41,500 | $24,940 | $763,000 | $152,600 |
| $175,000 | $784,000 | $53,400 | $29,224 | $895,000 | $179,000 |
| $200,000 | $902,000 | $65,200 | $33,472 | $1,026,000 | $205,200 |
| $250,000 | $1,139,000 | $88,900 | $42,004 | $1,288,000 | $257,600 |
Each figure is the highest price at which that income still passes the stress test and CMHC’s 39% housing-cost limit. Property tax is taken as 1% of the price a year and heat as $150 a month, over 25 years with no other debts, at the Bank of Canada’s new 5-year fixed averages for July 2026 (4.05% insured, 4.49% uninsured). The 20% columns only apply if you have that much saved; with less, the minimum-down columns are the ceiling.
Two patterns run through the table. Going from the minimum to 20% down raises the price an income supports, because there is no premium and the loan is a smaller share of the price: at $100,000 the top price goes from $431,000 to $501,000, but buying at the higher price takes $100,200 in savings instead of $21,550. And the price an income buys grows a little faster than the income: a $40,000 household can spend about 4.0 times its income with the minimum down, a $150,000 household about 4.4 times. Heat is a fixed cost that takes a larger share of a smaller income, and above $500,000 the larger minimum down payment means a smaller loan for each dollar of price.
What moves the answer
Two limits apply, and whichever is lower sets your price: the income limit (your housing costs at the stress-test rate have to fit within CMHC’s GDS and TDS limits) and the savings limit (your down payment has to cover the minimum for the price). Five inputs change where those limits fall.
Other debts
For an insured mortgage, CMHC caps your housing costs at 39% of gross income (GDS) and your housing costs plus other debt payments at 44% (TDS); lenders set their own limits for uninsured mortgages. Car loans, student loans and card payments count only against the second limit. Because it sits 5 points above the first, other debt payments up to that share of gross income leave the price unchanged; past it, each dollar of debt payment comes out of the housing budget. A $60,000 household with $400 a month of car or credit payments qualifies for about $229,000 with the minimum down payment, against $250,000 with no other debts. The calculator’s “other debt payments” box applies this test to your own numbers.
The interest rate and the stress test
Lenders check that you could afford the payments at the greater of your contract rate plus 2% or 5.25%, a floor set by OSFI for uninsured mortgages and by the federal government's mortgage insurance rules (the Minister of Finance's Eligible Mortgage Loan Regulations) for insured ones. At the average new insured rate of 4.05%, that means qualifying at 6.05%. Because the test adds a fixed 2 points, a lower contract rate raises what an income qualifies for only while the rate is above 3.25%; below that, the 5.25% floor sets the qualifying rate and a cheaper mortgage only lowers the payment you actually make.
The down payment
The minimum down payment is 5% of the first $500,000 and 10% of the rest for homes under $1.5 million, and 20% at $1.5 million or more. With less than 20% down, a CMHC premium is added to the loan, which raises the payment and lowers the price your income supports. That is why the minimum-down column above stays under the 20% column at every income. The income-to-afford guide sets out each rule and its source, and works the question the other way, from a home price to the income it needs.
Amortization
The table uses 25 years, the usual maximum for an insured mortgage. Since December 15, 2024, first-time buyers and buyers of new builds can take 30 years, at a premium 0.20 percentage points higher. The lower payment lifts the top price: at $100,000 of income with the minimum down, from $431,000 over 25 years to $459,000 over 30. The calculator has a first-time buyer or new build box for this.
Property tax, heat and condo fees
Housing costs in the 39% limit include property tax, heat and 50% of any condo fees, not just the mortgage. Property tax rates vary a lot by city, so the 1% assumption is high in some places and low in others; the province pages compare it with local rates where they are known.
Affordability by province
Of the ten provinces, British Columbia has the highest benchmark price and New Brunswick the lowest. Each province page adds what is particular to buying there: the land transfer tax or registration fees at the typical price, first-time buyer relief, any provincial tax on the mortgage insurance premium, and local property tax rates. The pages: Ontario (with Toronto, Ottawa and Hamilton), Quebec (Montreal), British Columbia (Vancouver), Alberta (Calgary and Edmonton), Saskatchewan, Manitoba (Winnipeg), Nova Scotia (Halifax), New Brunswick, Prince Edward Island and Newfoundland and Labrador.
| Area | Price measure | Price | Income needed, minimum down | Income needed, 20% down |
|---|---|---|---|---|
| Ontario | MLS HPI benchmark | $745,400 | $166,900 | $146,500 |
| Quebec | MLS HPI benchmark | $540,800 | $123,700 | $107,600 |
| British Columbia | MLS HPI benchmark | $874,600 | $194,100 | $171,100 |
| Alberta | MLS HPI benchmark | $511,500 | $117,600 | $102,000 |
| Saskatchewan | MLS HPI benchmark | $381,600 | $89,000 | $77,300 |
| Manitoba | MLS HPI benchmark | $392,900 | $91,500 | $79,400 |
| Nova Scotia | MLS HPI benchmark | $435,000 | $100,800 | $87,400 |
| New Brunswick | MLS HPI benchmark | $342,400 | $80,300 | $69,800 |
| Prince Edward Island | MLS HPI benchmark | $372,800 | $87,000 | $75,600 |
| Newfoundland and Labrador | MLS HPI benchmark | $358,400 | $83,800 | $72,800 |
Prices: provincial REALTOR association figures on CREA Stats (August 2026). Incomes: this site's calculation, with the assumptions on the calculator page.
The Prairies
Alberta has the highest benchmark price of the three Prairie provinces and Saskatchewan the lowest. Alberta and Saskatchewan charge land titles fees instead of a land transfer tax, while Manitoba taxes the transfer in brackets and gives first-time buyers no rebate. The cities:
| Area | Price measure | Price | Income needed, minimum down | Income needed, 20% down |
|---|---|---|---|---|
| Calgary | MLS HPI benchmark | $566,700 | $129,200 | $112,500 |
| Edmonton | MLS HPI benchmark | $423,100 | $98,100 | $85,200 |
| Saskatoon | MLS HPI benchmark | $444,700 | $102,900 | $89,300 |
| Regina | MLS HPI benchmark | $348,900 | $81,700 | $71,000 |
| Winnipeg | Average price (dollar volume ÷ sales) | $393,463 | $91,600 | $79,500 |
Prices: Calgary: Calgary Real Estate Board (September 2026); Edmonton: REALTORS Association of Edmonton (September 2026); Saskatoon: Saskatchewan REALTORS Association (August 2026); Regina: Saskatchewan REALTORS Association (August 2026); Winnipeg: Winnipeg Regional Real Estate Board (August 2026). Incomes: this site's calculation, with the assumptions on the calculator page.
Calgary’s benchmark is 34% above Edmonton’s, so the two largest Prairie cities need quite different incomes despite sharing a province.
Atlantic Canada
Of the four Atlantic provinces, Nova Scotia has the highest benchmark and New Brunswick the lowest. Each handles the transfer differently: New Brunswick and Prince Edward Island tax the transfer at a flat rate, Nova Scotia’s deed transfer tax is set by each municipality, and Newfoundland and Labrador charges only registration fees. Halifax and Moncton, the two Atlantic cities with current price data here:
| Area | Price measure | Price | Income needed, minimum down | Income needed, 20% down |
|---|---|---|---|---|
| Halifax Regional Municipality | MLS HPI benchmark (aggregator estimate) | $563,800 | $128,600 | $111,900 |
| Moncton | Average sale price | $374,090 | $87,300 | $75,800 |
Prices: Halifax Regional Municipality: WOWA estimate from Nova Scotia Association of REALTORS data (August 2026); Moncton: New Brunswick REALTORS (August 2026). Incomes: this site's calculation, with the assumptions on the calculator page.
Related pages
Browse All How Much House Can I Afford in Canada? Mortgage Affordability Calculator (2026) Articles
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Sources
The figures and rules on this page come from these sources, last checked against them between September 24, 2026 and October 4, 2026. How we check facts.
- Bank of Canada: Mortgage rates, fixed 5 years and over: uninsured residential mortgages, funds advanced (data series)
- Bank of Canada: Mortgage rates, fixed 5 years and over: insured residential mortgages, funds advanced (data series)
- Bank of Canada: Conventional 5-year mortgage rate (data series)
- CMHC: Calculating GDS / TDS
- CMHC: CMHC Purchase
- CMHC: Home Start
- CREA: CREA Stats (local board market statistics)
- CREA: CREA Stats (local board market statistics)
- CREB: City of Calgary Detailed.xlsm
- CREB: City of Calgary Detailed.xlsm
- Department of Finance Canada: Boldest mortgage reforms in decades come into force today
- Department of Finance Canada: Archived
- Department of Finance Canada: Government announces boldest mortgage reforms in decades to unlock homeownership for…
- Department of Finance Canada: “Straight Switches” and portfolio insurance
- Financial Consumer Agency of Canada: How much you need for a down payment
- Justice Laws (Canada): Bank Act
- Justice Laws (Canada): Eligible Mortgage Loan Regulations
- OSFI: Minimum qualifying rate for uninsured mortgages
- OSFI: Final Revised Guideline B-20: Residential Mortgage Underwriting Practices and Procedures
- OSFI: Amendments to the minimum qualifying rate for uninsured mortgages
- OSFI: OSFI exempts uninsured mortgage straight switches from the prescribed MQR and…
- OSFI: Loan-to-income limits for uninsured mortgage portfolios
- REALTORS® Association of Edmonton: New inventory is still being added, but sales have slowed for fall
- WOWA.ca: Canadian Housing Market Report Sep. 15th, 2026 | Interactive Map - WOWA.ca