Maximum purchase price at pre-approval
The most a lender's stress test and down-payment rules would allow, and what's limiting you.
Maximum purchase price$605,100limited by GDS (housing costs ÷ income); 30-year amortization ($575,700 over 25 years)
- Mortgage (with any premium)
- $567,994
- Qualifying rate
- 6.12%
- GDS / TDS at the limit
- 39.0% / 43.0%
- Cash to close
- $69,109
- Down payment + closing costs + premium tax
- Payment at your rate
- $2,740
A maximum, not a targetLenders approve up to this; whether it's comfortable is your call. Leave room for the rate to move before your hold ends. Rate-hold countdown.
Estimate, not advice. Educational estimate only, not financial, mortgage, tax or legal advice. Lenders, insurers and governments set their own rules and can change them; confirm with a licensed professional before you decide.
Maximum price about $605,100; limited by GDS (housing costs ÷ income).
| Rate ↓ / Debts → | $0 | $250 | $500 | $750 | $1,000 |
|---|---|---|---|---|---|
| 3.12% | $653K | $653K | $653K | $614K | $578K |
| 3.62% | $632K | $632K | $632K | $598K | $560K |
| 4.12% | $605K | $605K | $605K | $573K | $536K |
| 4.62% | $584K | $584K | $584K | $550K | $515K |
| 5.12% | $561K | $561K | $561K | $528K | $494K |
Assumptions & sources
Assumptions
- Same rules as the readiness check: OSFI/Finance qualifying rate, CMHC GDS 39% / TDS 44%, federal minimum down payment and CMHC premiums.
- For a full affordability plan by city, see MortgageAffordabilityCalculator.ca.
Sources
- OSFI — Minimum qualifying rate for uninsured mortgages (Guideline B-20). Checked .
- Department of Finance Canada — Statement on the insured mortgage stress test (effective December 12, 2023). Checked .
- CMHC — Calculating GDS / TDS. Checked .
- CMHC — Homeowner mortgage loan insurance: Purchase (eligibility). Checked .
Want a person to check these numbers?
Pre-approval amount · Powered by MortgagePreApprovals.ca · MITEY