Image of the pink square with a house and a dollar-sign Mortgage Qualifier Tool

From Financial Consumer Agency of Canada

This calculator helps you determine whether or not you can qualify for a home mortgage based on income and expenses.

Mortgage stress test


To qualify for a mortgage loan at a bank, you will need to pass a “stress test”. You will need to prove you can afford payments at a qualifying interest rate which is typically higher than the actual rate in your mortgage contract.

You need to pass this stress test even if you don’t need mortgage loan insurance.

Credit unions and other lenders that are not federally regulated do not need to use this mortgage stress test.

Banks must use the higher interest rate of either:

  • 5.25%
  • the interest rate you negotiate with your lender plus 2%

Enter the highest of the two rates above in the field Annual interest rate to determine if you can pass the stress test.

If you already have a mortgage, you’ll need to pass this stress test if you:

  • refinance your home
  • switch to a new lender, or
  • take out a home equity line of credit

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We offer this mortgage calculator as a self-help tool for your use. This tool does not replace professional financial advice. We cannot guarantee that this calculator will apply or be accurate in your situation. For example, your mortgage lender may make its calculations in a different way. All calculations are examples only.
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