Calculator
Mortgage stress test
Canadian federally regulated lenders qualify you at the greater of your contract rate + 2% or 5.25%. Your actual payment stays at contract — but affordability is capped at the qualifying rate.
Qualifying rate
6.79%
Contract 4.79% + 2%, min 5.25%
Qualifying payment
$4,675
Used by the lender to qualify you
Your actual payment
$3,874
At 4.79% contract rate
Buffer built in
$801
Room in your budget the test forces
Provincially regulated credit unions and some B-lenders use different qualifying rules. If you're close to the ceiling, ask about switching lender class.
Scenario only — not a pre-approval. Real rates depend on lender, credit, and property.