Affordability
What price can you qualify for?
Lenders test you at a higher rate than the one you will pay. This shows the highest price that passes that test, at the cautious limits many lenders use and at the most CMHC allows.
Car loans, credit card minimums, student loans, support.
The rate you were quoted. The first number shown is only an example.
About 1% in most of Durham. Check the town's rate for a closer number.
You have never owned a home anywhere, and you will live in this one.
Bought from a builder and never lived in.
Tested at 6.5%, the higher of your rate plus 2% or 5.25%.
Cautious limits
32% of income on housing, 40% on all debts.
Highest price that qualifies
$564,390
Payment at your rate
$2,792.61
Housing 32% of income, all debts 36%.
Limited by housing costs against income.
Insured maximum
39% on housing, 44% on all debts: the most CMHC allows.
Highest price that qualifies
$677,451
Payment at your rate
$3,437.77
Housing 39% of income, all debts 43%.
Limited by housing costs against income.
An estimate to plan with, not advice. Your lender, lawyer and accountant have the final word.
Rates and rules last checked October 19, 2026.
Where the rules come from
- OSFI minimum qualifying rate page (modified 2026-01-29) and CMHC Purchase page, checked 2026-10-19.
- CMHC premium information page and CMHC Purchase page, cmhc-schl.gc.ca, checked 2026-10-19.
- CMHC Home Start page (cmhc-schl.gc.ca, checked 2026-10-19): 30 year amortization for first time homebuyers or a newly built home, insured price below $1,500,000.
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