Mortgage & Stress Test Calculator
Simulate your monthly home mortgage payments and stress test your eligibility under federal regulations.
Federal Stress Test
Validates your mortgage budget at a rate that is 2% higher than your actual contract rate.
Auto CMHC Insurance Calculation
Calculates and bundles CMHC default insurance premiums if your down payment is less than 20%.
Amortization Period
Estimated Monthly Payment
Frequently Asked Questions
What is the mortgage stress test in Canada?
The stress test is a federal regulatory requirement. Lenders must evaluate if you can afford mortgage payments at a higher rate (the higher of 5.25% or your contract rate + 2.0%).
When is CMHC mortgage insurance mandatory?
Mortgage default insurance (such as CMHC) is mandatory if your down payment is less than 20% of the home purchase price. It is not available on homes priced at $1 million or more.
Common Mortgage Mistakes to Avoid
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Ignoring additional closing costs
Buying a home involves appraisal, inspection, legal fees, and land transfer taxes representing 1.5% to 4% of the purchase price.
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Neglecting Debt Service Ratios (GDS/TDS)
Even if you pass the stress test, banks reject files if your GDS ratio exceeds 39% or TDS ratio exceeds 44% of your gross income.
Related Tool
Land Transfer Tax Calculator
Calculate your local and provincial property acquisition taxes and rebates.