How much could you borrow?

For information purposes only. Calculated from the data entered with semi-annual compounding, as is typical for Canadian mortgages. Your actual payment may vary. Confirm the terms with a mortgage professional. This estimate does not replace a mortgage pre-approval. The calculation applies CMHC’s maximum debt service ratios (GDS 39% and TDS 44%), the stress test (the higher of your rate plus 2 points or 5.25%), the minimum down payment and the CMHC mortgage loan insurance premium. It includes property taxes estimated at 0.8% of the price per year, $100 per month for heating and half of any condo fees. It does not take into account your credit history, income stability or each lender’s own criteria. Area prices are ballpark figures.