Interactive Tool · 2026 Edition

Affordability Calculator
York Region & GTA — 2026

See what you can realistically afford at today's rates — including stress test qualification, program savings, and rate sensitivity. Adjust the inputs and watch the results update in real time.

Estimates only — actual qualification subject to lender approval and federal stress test rules.

Before You Run the Numbers — Context Matters

In York Region, the average household income and the average home price have been moving in opposite directions for years. That tension is real. But in early 2026, declining rates and softening prices have brought qualifying thresholds down materially from their 2023 peaks — meaning more households now qualify than at any point in the past three years.

What most buyers underestimate is the stress test. You don't qualify at the rate you'll actually pay — you qualify at your contract rate plus 2%, or 5.25%, whichever is higher. On a $700K mortgage, that gap can mean $600–$800/month in phantom payments that affect your approval but never actually leave your account. Understanding this distinction is the difference between thinking you can't afford it and knowing exactly where you stand.

Strategy matters more than income. Product type, amortization length, down payment structure, and rate shopping each move the needle. The calculator below lets you see how — so you can have a real conversation with a mortgage broker instead of guessing.

Property

Purchase Price $750,000

$300K$750K$1.5M

Down Payment 15% — $112,500

5%20%35%

Mortgage

Interest Rate 4.50%

3.00%5.00%7.00%

Amortization

25 Years

30 Years

30-year available on insured mortgages only (less than 20% down, purchase under $1M). Lowers monthly payment but increases total interest paid over the life of the loan.

Monthly Housing Costs

Property Tax (est.)

Condo / Strata Fee

Heating (est.)

Your Financial Profile (optional)

Household Income (annual)

Leave at 0 to skip. Enter your gross combined household income to see qualification feedback.

Other Monthly Debt Payments

Assumes zero additional debt unless entered. Car loans, credit cards, and other obligations reduce qualification.

Estimated Monthly Mortgage

$3,321

Principal & interest only

Total Monthly Housing Cost $3,871

Mortgage Amount $637,500

CMHC Insurance $17,850

CMHC insurance is added to your mortgage balance — not paid upfront.

Qualification Estimate

Stress Test Rate 6.50%

Payment at Stress Test $4,142

Est. Income Needed (GDS 32%) ~$175,960

Est. Income Needed (TDS 40%) Same as GDS (no debts)

Enter your income above to see qualification status

Rate Sensitivity

If rate dropped 0.50%: $3,129 (-192)

If rate rose 0.50%: $3,518 (+197)

First-Time Buyer Savings

Ontario LTT Refund Up to $4,000

FHSA + HBP (single max) Up to $100,000

First-Time Buyer Tax Credit Up to $1,500

Note: The stress test requires qualifying at your contract rate +2% or 5.25%, whichever is greater. Actual approval depends on total debts, credit score, and lender criteria. These are estimates for planning purposes only.

Want exact numbers based on your income and debts? I'll connect you with a mortgage broker within 24 hours.

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Quick Reference — Qualifying Income by Price

Based on a 4.5% rate, 30-year amortization (where eligible), GDS ratio of 32%, and the stress test at contract rate +2%. Actual results depend on your individual circumstances.

Purchase Price	Down Payment	Monthly P&I	Est. Income Needed	Best For
$550,000	10% ($55K)	$2,680/mo	~$115,000	Condos, stacked towns
$650,000	10% ($65K)	$3,170/mo	~$134,000	Stacked towns, smaller towns
$750,000	15% ($112.5K)	$3,410/mo	~$148,000	Townhomes, semis (Bradford, Georgina)
$850,000	15% ($127.5K)	$3,870/mo	~$166,000	Larger towns, semis (Newmarket, Aurora)
$999,999	15% ($150K)	$4,550/mo	~$192,000	Detached entry (select areas)
$1,100,000	20% ($220K)	$4,840/mo	~$210,000	Detached (25-yr amort required)

30-year amortization available on insured mortgages only (purchase under $1M, down payment less than 20%). Purchases at $1M+ require minimum 20% down and 25-year amortization. CMHC insurance included where applicable. Income estimates assume GDS 32%, property tax $400/mo, heat $150/mo, zero additional debts. All figures are estimates.

Programs That Reduce What You Need

First-Time Buyer Programs — Stack Them

These programs reduce the amount you need to save and lower your monthly payment. Programs are subject to change — confirm current eligibility with your financial advisor.

FHSA

$40,000

Per person lifetime max. $8,000/year contribution limit. Tax-deductible in, tax-free out. Couple: $80K combined.

Home Buyers' Plan

$60,000

Per person RRSP withdrawal. Tax-free withdrawal for qualifying home. 15-year repayment schedule. Couple: $120K combined. Can be used alongside FHSA.

ON LTT Refund

Up to $4,000

Provincial land transfer tax refund for first-time buyers. Toronto purchases: additional municipal refund of up to $4,475.

Tax Credit

$1,500

Federal first-time home buyers' tax credit. $10,000 non-refundable credit × 15% = up to $1,500 in tax savings. Claimed in the year of purchase.

Combined (couple): Up to $200,000 in tax-advantaged down payment funds + up to ~$9,975 in credits and refunds (outside Toronto). Every dollar in your down payment reduces the mortgage — and closes the monthly payment gap. Program terms are subject to change — confirm eligibility with your financial advisor.

Want Exact Numbers for Your Situation?

This calculator provides estimates. For a precise pre-approval based on your income, debts, and credit profile, I'll connect you with a mortgage broker within 24 hours. No pressure, no obligation.

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Disclaimer: This calculator provides estimates for planning purposes only. All figures assume specific rate, amortization, and down payment scenarios. Actual mortgage qualification is subject to lender approval, federal stress test rules (qualifying rate of contract rate +2% or 5.25%, whichever is greater), credit assessment, and individual financial circumstances. CMHC mortgage insurance rates are approximate and may vary by insurer. Government programs including FHSA, Home Buyers' Plan, and land transfer tax refunds are subject to eligibility requirements and may change. The qualification feedback displayed is an estimate based on GDS (32%) and TDS (40%) ratios and does not constitute a lending decision. Consult a licensed mortgage broker and financial advisor for personalized guidance. Nothing on this page constitutes financial, legal, or investment advice.