How Much Mortgage Can I Afford in Calgary?
Quick Answer
Based on a $100,000 household income in Calgary, you can typically afford a home between $450,000 and $520,000 depending on your debts, down payment, and current rates. The OSFI stress test at the higher of your rate + 2% or 5.25% determines your maximum qualification.
Calculator
Car, student loans, credit cards
Maximum Purchase Price
$450,115
Debt Ratios
Max 39%
Max 44%
💡 What This Means for You
Based on a $100,000 household income, you can qualify for a home up to $450,115. The bank will test you at 6.99% (stress test), even though your actual rate is 4.99%.
How It Works
Canadian mortgage qualification uses two key ratios: GDS (Gross Debt Service) — your housing costs divided by gross income, capped at 39% — and TDS (Total Debt Service) — all debts including housing divided by gross income, capped at 44%.
Housing costs include mortgage payment, property tax, heating, and 50% of condo fees. The qualification uses the stress test rate (higher of contract rate + 2% or 5.25%), not your actual mortgage rate.
Real Calgary Scenarios
Single Income
$70,000/yr income
$294,599
max purchase price
Dual Income
$140,000/yr income
$663,501
max purchase price
High Income
$200,000/yr income
$1,014,535
max purchase price
Frequently Asked Questions
How much house can I afford on $100K in Calgary?
With $100,000 income, $400/month in debts, and $50,000 down, you can typically afford a home around $470,000–$520,000 at current rates. The exact amount depends on your debt load and property taxes.
What is the stress test for a Calgary mortgage?
The OSFI B-20 stress test requires you to qualify at the higher of your contract rate + 2% or 5.25%. This reduces your maximum borrowing power by roughly 20% compared to qualifying at the actual rate.
What are GDS and TDS ratios?
GDS (Gross Debt Service) is your housing costs divided by gross income — max 39%. TDS (Total Debt Service) adds all debts to housing costs — max 44%. Both must be satisfied to qualify.
Does my car payment affect my mortgage qualification?
Yes. Car payments, student loans, credit card minimums, and all other debts count toward your TDS ratio. A $500/month car payment can reduce your borrowing power by roughly $80,000–$100,000.
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