Pre-Approval Calculator
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
$
$
Credit cards, loans, car payments
5%10%35%
600720850
$
$
$
Pre-Approval Amount
$278,951.308
You qualify for pre-approval!
Mortgage Details
Mortgage Amount$258,838.918
Monthly Payment$1,608.675
Mortgage Rate5.69%
Stress Test Rate7.69%
Debt Service Ratios
GDS Ratio (max 39%)29.1%
TDS Ratio (max 44%)40.4%
CMHC Insurance Required
Down payment less than 20% requires mortgage insurance
$7,782.741 premium
About Pre-Approval
• This calculator uses the current stress test rate of 7.69%
• 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