Mortgage Pre-Approval

Get an instant estimate of how much you can qualify for with our pre-approval calculator using current stress test requirements.

Income & Financial Details

Gross Annual Income

Monthly Debt Payments

Credit cards, loans, car payments

Down Payment (10%)

5%10%35%

Credit Score

600720850

Monthly Heating

Property Tax

Condo Fees (if applicable)

$346,112.972

Pay down existing debts to improve qualification

Mortgage Amount$321,158.226

Monthly Payment$2,008.799

Mortgage Rate5.69%

Stress Test Rate5.25%

GDS Ratio (max 39%)34.7%

TDS Ratio (max 44%)46.0%

Down payment less than 20% requires mortgage insurance

$9,656.552 premium

• This calculator uses the current stress test rate of 5.25%

• Pre-approval is valid for 90-120 days depending on the lender

• Actual rates and approval are subject to credit and income verification

• CMHC insurance is required for down payments under 20%

• Property appraisal and other conditions will apply to final approval