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Do I Qualify? Mortgage Qualification Check

One screen for the question every buyer arrives with: does this house work? Enter the price, the down payment, the income and the debts, and see whether it passes — and if not, how much less house, more income, less debt or more down payment it would take.
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CMHC published maximums for high-ratio insured deals. The starting point for most first-time buyers.

GDS 39% · TDS 44% · max 30 years · max LTV 95%

39 / 44 per CMHC. Some insurers flex to 42 / 44 on strong credit.

This deal qualifies. GDS 38.7% against 39%, TDS 42.9% against 44%.

This deal qualifies

Yes

Housing costs (GDS)38.7% of 39%

Mortgage $4,015.31, tax $375.00, heat and half of any condo fees — tested at 6.49%.

All debts (TDS)42.9% of 44%

Housing costs plus $500.00 a month of other obligations.

Mortgage
$600,000
Their payment
$3,317.50
Qualifying payment
$4,015.31
Loan-to-value
80.0%
Amortization
25 years

An estimate for discussion, not an approval. A lender will assess credit, employment, the property and the full application. Clover Mortgage Inc. is a licensed mortgage brokerage. This calculator provides estimates for information only and is not an offer of credit, an approval, or financial advice.

Every mortgage is different. A Clover Mortgage broker can confirm what you actually qualify for across more than 50 lenders — at no cost to you.

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This deal qualifies

Yes

Common questions

What are GDS and TDS?
Gross Debt Service is the share of your gross monthly income taken by housing costs — mortgage payment, property tax, heating, and half of any condo fees. Total Debt Service adds every other monthly obligation: cars, cards, lines of credit, student loans and support payments. Lenders commonly cap them at 39% and 44%, and the tighter of the two decides the answer.
Why is the payment tested at a higher rate than the one I was offered?
Canadian lenders qualify you at the stress-test rate — the greater of your contract rate plus 2% or 5.25% — so the ratios are worked out on a payment larger than the one you would actually make. The payment you would really pay is shown separately.
It says I do not qualify. Is that final?
No. It is one lender's rules applied to the figures entered. Ratios, maximum loan-to-value and amortization vary between lenders, and a mortgage agent can place a deal that a single rule set rejects. The figures shown for a lower price, higher income, less debt or a larger down payment are the levers — and an agent can often find a lender whose rules already fit.
Does this check my credit?
No. Nothing here touches your credit file and no application is made. It is arithmetic on the numbers you enter, using current Canadian qualifying rules.