Mortgage Stress-Test Calculator
The payment a calculator shows you — and the payment a lender will actually approve. Both, side by side.
Updated for 2026 · OSFI rules
Your numbers
Your result
How this is calculated
Since 2018, federally regulated lenders must qualify you at the higher of your contract rate plus 2%, or the Bank of Canada benchmark rate (5.25% floor) — the "stress test." Generic calculators that use only your contract rate overstate what you can borrow. This one shows both: the payment you'd see, and the payment the lender uses.
Qualifying uses two ratios: GDS (housing costs ÷ income, ≤ 39%) and TDS (all debts ÷ income, ≤ 44%). Down payments under 20% require CMHC insurance, which is added to the mortgage.
What changed in 2026
Ported from the annual review notes.
Sources
- OSFI — B-20 Guideline: residential mortgage underwriting (qualifying rate)
- Bank of Canada — conventional mortgage benchmark rate
- CMHC — mortgage insurance premium schedule
Common questions
Why is my approved amount lower than the calculator said?
Most online calculators use your contract rate. Lenders qualify you at the stress-test rate — the higher of your rate + 2% or the benchmark — which shrinks your approved amount. Toggle the comparison above to see both.
What counts in my monthly housing cost?
More than the mortgage: property tax, heating, and half of condo fees all count toward your GDS ratio. This calculator rolls them into one total monthly cost.
What are closing costs on top of the down payment?
Land transfer tax (double in Toronto — provincial + municipal), legal fees, title insurance, inspection and appraisal. Budget roughly 1.5–4% of the price beyond your down payment.
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