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Canadian lenders use two income tests — GDS and TDS — both calculated at a stress test rate that is higher than your actual mortgage rate. This means you qualify for less than you might expect. The stress test was introduced in 2018 under OSFI Guideline B-20 and applies to all federally regulated lenders (major banks). Provincially regulated credit unions are exempt, though many apply it voluntarily.
Income types matter: Not all income is counted equally. Salaried T4 income from a 2+ year employer is counted at 100%. Commission, bonus, and self-employment income use a 2-year average from your Notice of Assessment (line 15000). Rental income is counted at 50% of gross by most A-lenders. Child support received with a court order is typically counted at 100%. Pension and CPP/OAS income is fully counted.
To qualify for a mortgage in Canada your housing costs must stay under about 39% of gross income (GDS) and all debts under about 44% (TDS), at the stress-test rate (the greater of your rate plus 2% or 5.25%). Enter your numbers to see your ratios and whether you pass.
The calculator works out your GDS and TDS at the stress-test rate using your income, debts, property tax, heating and condo fees. A co-borrower adds income and debts to the same test. Lenders also look at credit history, employment and the down payment, which no calculator can fully judge.
Reviewed November 2026 by the mortgage team at Top Mortgages Inc. Figures are estimates for general information. They are not a quote, an approval or financial advice, and lenders set their own final terms.
It depends on the price, down payment, rate and your debts. As a rough guide, a $600,000 mortgage needs a household income of roughly $145,000 to $155,000 once the stress test, property tax and heating are counted.
Yes. Most prime lenders want about 680 or higher, and a higher score gets better rates. Lower scores can still qualify through alternative lenders.
Yes. Their income counts toward the ratios, but their debts and credit are included too.
Salary, hourly pay with a track record, commission and bonus (usually averaged over two years), rental income and pensions. Self-employed income is based on your Notices of Assessment, with some lenders adding back certain write-offs.
A calculator gives an estimate. A licensed mortgage professional can tell you what you actually qualify for, at no cost, and your credit is not checked to start.
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