Free · Takes 60 Seconds · No Credit Check
Find Out What You Can Actually Afford
Answer 3 quick questions and get an instant estimate of your maximum purchase price — based on what lenders actually look at.
Powered by Aman Nanda · Licensed Mortgage Broker · DLC A.I.M.I. Collective Mortgage Group
How It Works
The same calculations lenders use — simplified into 3 steps.
Enter Your Numbers
Tell us your household income, monthly debt payments, and how much you have for a down payment. Takes about 30 seconds.
Unlock Your Estimate
Enter your name, email, and phone so we can send you a copy and follow up if you have questions.
See Your Results
Get your estimated max purchase price, monthly payment breakdown, GDS/TDS ratios, and stress test result — instantly.
What Lenders Actually Look At
Understanding these ratios is the key to knowing what you can afford.
Gross Debt Service Ratio
Your total housing costs (mortgage payment + property taxes + heating) as a percentage of your gross monthly income. Lenders want this at or below 39%.
Total Debt Service Ratio
Your total housing costs plus all other debt payments (car loans, credit cards, student loans) as a percentage of your gross monthly income. Must be at or below 44%.
Mortgage Stress Test
All buyers must qualify at the higher of your contract rate + 2% or 5.25%. This ensures you can afford payments if rates rise. Your actual payments are at the lower contract rate.
Down Payment Rules
Minimum 5% on the first $500K and 10% on the portion above $500K (up to $1M). Homes over $1M require 20% down. Less than 20% down means you'll pay CMHC insurance.
Why check your affordability before you start looking?
Know your budget upfront
Stop wasting time looking at homes you can't get approved for. Know your real number before your first showing.
Strengthen your offer
Sellers take you more seriously when you know exactly what you can afford. It shows you're a prepared buyer.
Avoid surprises at closing
Understanding your GDS/TDS ratios and stress test results means no last-minute funding issues.
Plan your down payment strategy
See if you need CMHC insurance and how much more down payment could increase your buying power.
Quick Example
A household earning $120,000/year with $500/mo in debt and $80,000 down payment could be approved for approximately:
~$559,000
at 3.89% variable · 25yr amortization
* This is an estimate. Your actual approval will depend on credit, employment, and other factors.
Built by a Licensed Mortgage Broker
I'm Aman Nanda — a licensed mortgage broker and realtor based in Surrey, BC. I built this tool to give buyers a realistic starting point before we sit down for a full pre-approval. The calculations use the same GDS/TDS ratios and stress test rules that lenders apply.
If you've run the numbers and want to take the next step, I can review your full financial picture, shop rates across 40+ lenders, and get you a real pre-approval — at no cost to you.
Frequently Asked Questions
Is this a real mortgage pre-approval?
No — this is an estimate based on the same GDS/TDS ratios and stress test rules lenders use. A real pre-approval requires credit checks, employment verification, and a full lender review. This gives you a solid starting point before we do the full process.
Will this affect my credit score?
No. This tool does not run a credit check. It only uses the income, debt, and down payment numbers you enter. No personal information is sent to any credit bureau.
What rate does the calculator use?
The estimate is based on a 3.89% variable rate with a 25-year amortization and no strata fees. It also stress-tests your numbers at 5.89% (contract rate + 2%), which is how lenders determine your maximum approval.
What is the mortgage stress test?
Since 2018, all Canadian mortgage borrowers must qualify at the higher of their contract rate plus 2%, or 5.25% — whichever is greater. This ensures you can still afford payments if rates go up. Your actual monthly payment is calculated at the lower contract rate.
What is CMHC insurance?
If your down payment is less than 20% of the purchase price, you're required to purchase mortgage default insurance (CMHC insurance). This protects the lender and is added to your mortgage balance. The premium ranges from 2.8% to 4% of the mortgage amount depending on your down payment percentage.
Why do I need to enter my contact info?
We ask for your info so we can send you a copy of your results and be available to answer questions. As a licensed mortgage broker, I can also help you take the next step toward a real pre-approval at no cost to you. Your information is private and never shared.
How accurate is this estimate?
This estimate uses the same qualification ratios that lenders use (GDS ≤ 39%, TDS ≤ 44%). However, your actual approval will also depend on your credit score, employment type, and the specific property. Think of this as a realistic ballpark — your real number could be higher or lower.
How much down payment do I need in Canada?
For homes up to $500,000: minimum 5%. For homes $500,000–$999,999: 5% on the first $500K and 10% on the remainder. For homes $1M+: minimum 20%. First-time buyers can use the RRSP Home Buyers' Plan ($60,000) and FHSA ($40,000) toward their down payment.
More Calculators & Guides
Explore these tools to plan every part of your home purchase.
Mortgage Affordability
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Down Payment
See minimum down payment by price and CMHC costs
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Property Transfer Tax
Calculate BC PTT and check first-time buyer exemption
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First-Time Buyer Guide
Every incentive available to first-time buyers in BC
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