Home Affordability Calculator Montreal
This tool estimates an affordability range from your income, debts and down payment. It is not a pre-approval.
Home & Mortgage · Real Estate & Home Buying →
Your numbers
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What this number means: The result is an estimated range, derived from the debt-service ratios Canadian lenders use: the gross ratio (housing) and the total ratio (housing plus other debts).
What the calculation assumes
- The ratios used are common industry benchmarks, not any particular lender’s criteria.
- Lenders apply a qualifying rate that can be higher than the contract rate.
- Mortgage loan insurance, condo fees and home insurance are not modelled.
- Your credit file and income stability are not taken into account.
Next step
Professionals in Montreal
MTLPages directory categories related to this step. MTLPages is a directory: we do not provide the service.
Frequently asked questions
Does this mean I qualify?
No. This is an affordability estimate, not a lending decision. Only a lender can confirm your eligibility.
What is a debt-service ratio?
It is the share of your gross income going to housing costs (gross ratio) or to housing plus other debts (total ratio). Lenders use it to assess repayment capacity.
Why is the result a range?
Because the two ratios produce different ceilings depending on your debts. The range shows the gap between those two constraints.
Official sources
Amounts, thresholds and schedules change. MTLPages does not reproduce them in the page: check the source for the figure currently in force.
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Notice
This calculator does arithmetic on the values you enter. It is not financial, legal or tax advice, does not account for your personal situation, and guarantees no approval and no price. Confirm any decision with a qualified professional.