How much home can you really buy?
This BC affordability calculator shows the price range you can qualify for, based on your income, debts, down payment and the mortgage stress test.
What this BC affordability calculator tells you.
Before you fall in love with a home, find out what a lender is likely to approve and what actually feels comfortable for you.
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Your price range
The most you could qualify for, based on the same GDS and TDS limits lenders use.
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Stress test included
Results use the qualifying rate, so you are not surprised when you apply for a mortgage.
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A comfortable budget
See where your monthly income goes, so you can choose a price that leaves room to live.
How to use the BC affordability calculator.
It only takes a couple of minutes. Every result updates while you type.
Want me to check your numbers? Book a free call
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Add your income
Use your household income before tax, for everyone who will be on the mortgage.
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List your debts
Car loans, student loans and credit card balances all reduce what you can borrow.
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Enter your down payment
Include savings, gifts and any FHSA or RRSP money you plan to use.
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Compare the results
Look at the price by comfort level, then talk to a mortgage broker to confirm.
Price range by comfort level
Where your monthly income goes
Monthly budget at the maximum price
Where these numbers come from
Every rule in this calculator is taken from these official pages.
- Calculating GDS and TDSDebt service limits of 39% and 44%, what counts as housing costs, half of strata fees, credit cards and lines of credit at 3% of the balance, secured lines of credit over 25 years, and the qualifying rate.
- Mortgage loan insurance costPremium rates by loan-to-value, added to the mortgage.
- Premium information for homeowner loansThe 0.20% premium surcharge for amortizations over 25 years.
- Minimum qualifying rate for uninsured mortgagesThe stress test: the higher of your rate plus 2% or 5.25%.
- Saving for a down payment (FCAC)Minimum down payment of 5% and 10%, 20% from $1.5 million, and when insurance is required.
- Mortgage reforms (Department of Finance)The $1.5 million insured price cap and 30-year insured amortizations for first-time buyers and new builds.
BC affordability calculator: good questions to ask.
Short, plain answers. Still have questions? Ask me anything on a free call.
Still have a question? Book a free call 778 900 1010
How do lenders decide how much I can borrow?
They look at two ratios. Your housing costs (mortgage, property tax, heating and half of the strata fee) should be under about 39% of your gross income, and all your debts together under about 44%. They also test the payment at a higher rate.
Why is the qualifying rate higher than my rate?
That is the stress test. Lenders check that you could still afford the payment at your rate plus 2%, or 5.25%, whichever is higher.
Should I buy at the maximum I qualify for?
Not always. The maximum leaves little room for savings or surprises. The comfortable and balanced ranges are a good guide to a price that still feels easy month to month.