Honest maximum purchase price - run through the federal stress test, GDS & TDS ratios, and CMHC premium rules. Manitoba-aware defaults for property tax and heating.
Car payments, credit card minimums, student loans, and line of credit payments all count.
The calculator applies Canada's tiered minimum down payment rules (5% / 10% / 20%).
5 to 30 years. The calculator stress-tests you at your rate + 2%, or 5.25%, whichever is higher.
Manitoba-aware defaults are pre-filled; condo fees count at 50% toward your ratios.
Based on the lower of GDS (39% cap) and TDS (44% cap), plus CMHC premium tiers if your down payment is under 20%.
As of Dec 2024, first-time buyers on insured mortgages (and anyone buying a brand-new build) can stretch to 30 years instead of the standard 25.
Every lender must qualify you at your contract rate plus 2% - or 5.25%, whichever is higher.
5% on the first $500K, 10% on the portion above, 20% over $1.5M. Anything under 20% means CMHC insurance.
Every federally regulated lender in Canada has to qualify you at the greater of your contract rate + 2%, or the Bank of Canada's qualifying-rate floor of 5.25%.
On top of that, two ratios cap how much of your income can go to housing: GDS (housing alone, capped at 39%) and TDS (housing plus all other monthly debts, capped at 44%).
The number above is what the rulebook says you can carry - not what a specific lender will approve on a Tuesday afternoon. Lenders differ on qualifying rate flexibility, rental-income offsets, and niche programs.
That's what I do for a living: take a calculator number and turn it into a real, signed pre-approval at the lender most likely to fund your file at the sharpest rate.
Tools built by Jeremy LaHaie, mortgage professional with INVIS Inc., serving Winnipeg, Ste Anne, Steinbach, and all of Southeast Manitoba. Call or text (204) 995-7336.