Mortgage Affordability Calculator
Calculate what you can afford to buy in Montreal based on your income, down payment, and current mortgage rates. Includes stress test impact.
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Understanding the Stress Test
Canada's mortgage stress test requires you to qualify at a higher rate than your actual mortgage rate. This ensures you can still afford payments if rates rise. The qualification rate is either your contract rate + 2%, or 5.25%, whichever is higher.
Example: If your mortgage rate is 4.5%, you must qualify at 6.5%. This reduces your buying power by approximately 15-20% compared to qualifying at the contract rate.