How much income do I need to qualify?

See the household income you'd need to buy a home.

Try an example:

Home price default Down payment default Monthly debt payments defaultCar loans, credit cards, lines of credit, student loans. Use the minimum payments.

Assumptions you can change

Property tax per month default Heating per month default Condo fees per month defaultLenders count half of condo fees. Amortization (years) default Interest rate default

Qualifying rules (CMHC defaults, editable)

GDS limit (%) default TDS limit (%) default Stress test: add to your rate (%) default Stress test: minimum qualifying rate (%) default

—Per year, before tax

How this is worked out

An estimate, not an approval. Lenders also check your credit, job and other details.