This is a rough estimate only — not a pre-approval. It gives you a quick sense of where you stand based on standard Canadian lending guidelines (GDS and TDS ratios). For a real answer, talk to us.
All calculations use the stress test rate (your contract rate + 2%, or 5.25%, whichever is higher) as required by OSFI.
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What Are GDS & TDS?
GDS (Gross Debt Service): Housing costs as a percentage of income. Includes mortgage payment, property tax, heating, and 50% of condo fees. Maximum: 39%.
TDS (Total Debt Service): All debts as a percentage of income. Includes everything in GDS plus car payments, credit card minimums, loans, and child support. Maximum: 44%.
This tool provides a rough estimate only. It does not account for credit history, employment type, property type, or lender-specific guidelines. Some lenders allow exceptions to standard ratios. For a proper assessment, contact us.