Mortgage Payment

Stress Test Calculator

Stress Test

Mortgage Affordability Calculator

Before you begin your search for a new home or property, start here! By imputing a few key values into our Mortgage Affordability Calculator, you’ll have a better understanding of what you may be approved for by our lenders.


This calculator is for illustrative purposes only. While every effort is made to keep this tool up-to-date, Simple Mortgage does not guarantee the accuracy, reliability or completeness of any information or calculations provided by this calculator. Simple Mortgage is not be liable for loss or damage of any kind arising from the use of this tool.

How is your Affordability Calculated?

All Calculations are based on a 5-year fixed mortgage with 25 year amortization and 4.79% interest rate.

Mortgage Default Insurance

The amount of money you have to put down determines how much your monthly payments will be & therefore, how much you can offer. It is this amount that is also used in calculating how much the default insurance you will require. See our Mortgage Payment Calculator for more details on your down payment.

Total Debt Service (TDS) Ratio

This number cannot exceed 42% and is calculated by dividing your total annual house-related expenses and debts by your gross annual income. The house related expenses that are used in the calculation include: mortgage payment, property tax, heating costs, all types of debt payments, and half of your condo fees if applicable.

Gross Debt Service (GDS) Ratio

This number cannot exceed 35% and is calculated by dividing your annual house-related expenses by your gross annual income. It takes into account all of the same expenses as the TDS but without the debt payments.

Stress Test

According to stress testing regulations, you must be able to afford your mortgage payments if the interest rate increases to the Bank of Canada 5-year benchmark rate (which is currently 4.79%) and 2% above your current interest rate if uninsured. Try our Stress Test

Getting a Mortgage Doesn't Have to be Complicated.

To start, all you need to do is tell us your goals. It's just that Simple. Let's Get Started!