🏠
Home Affordability Calculator
Enter your monthly budget and down payment to find out the maximum home price you can afford in Canada. Updated for 2026.
Advertisement
💡 Two ways to use this tool: Enter your monthly payment budget to find what home you can afford, OR enter a target home price to see if it fits your budget.
Optional — Income Details (for stress test)
🏠 Your Home Affordability Results
Maximum Home Price
—
Down Payment
Maximum Mortgage
CMHC Insurance Premium
Total Mortgage (incl. CMHC)
Estimated Payment
Interest Rate Used
Amortization
🧪 Stress Test (OSFI B-20)
Stress Test Rate
Payment at Stress Test Rate
Stress Test
⚠️ This calculator provides an estimate only. Actual mortgage approval depends on your credit score, employment history, lender policies and other factors. Always consult a licensed mortgage broker before making a purchase decision. Property taxes and condo fees (if applicable) also affect your qualifying amount.
📋 Canadian Down Payment Rules
| Home Price | Minimum Down Payment | CMHC Required? |
|---|---|---|
| Under $500,000 | 5% of purchase price | Yes |
| $500,000 – $999,999 | 5% on first $500K + 10% on remainder | Yes |
| $1,000,000 – $1,499,999 | 20% minimum | No — not CMHC eligible |
| $1,500,000+ | 20% minimum | No |
As of August 2024, the CMHC insured mortgage limit increased from $1M to $1.5M. Amortization up to 30 years is now available for insured mortgages on new builds for first-time buyers.
Advertisement