Stress test impact calculator

The payment a federally regulated lender must test you at.

Include any default-insurance premium if you'll have one.
Amortization
Your qualifying rate6.12%Your rate + 2 points
Payment at your rate
$2,663
what you'd actually pay
Payment you must qualify at
$3,235
$572 more per month
Loan the same payment would qualify for
$411,577
$88,423 less than you asked for
Income needed at 39% GDS (P&I only)
$99,532
before tax, heat and condo fees

Estimate, not advice. The stress test checks that you could still afford payments if rates rose. It does not change the rate you pay.

Qualifying rate 6.12%. Payment at qualifying rate $3,235 versus $2,663 at your rate.

Monthly payment at your rate vs the qualifying ratePayments on $500,000 over 25 years for contract rates from 2.5% to 7%. The qualifying line never drops below the 5.25% floor.$0$1K$3K$4K$5K2.5%3.0%3.5%4.0%4.5%5.0%5.5%6.0%6.5%7.0%
Show the numbers
Monthly payment at your rate vs the qualifying rate
Contract ratePayment at contract ratePayment at qualifying rate
2.5%$2K$3K
3.0%$2K$3K
3.5%$2K$3K
4.0%$3K$3K
4.5%$3K$3K
5.0%$3K$4K
5.5%$3K$4K
6.0%$3K$4K
6.5%$3K$4K
7.0%$4K$4K
Assumptions & sources

Assumptions

  • Qualifying rate = greater of contract rate + 2% or 5.25%, for insured and uninsured mortgages at federally regulated lenders.
  • Since November 21, 2024, uninsured borrowers who switch lenders at renewal without borrowing more do not have to requalify (OSFI straight-switch exemption).
  • Credit unions regulated by a province may apply different tests.
  • Semi-annual compounding (Canadian fixed-rate convention).

Sources

  1. OSFI — Minimum qualifying rate for uninsured mortgages (Guideline B-20). Checked .
  2. Department of Finance Canada — Statement on the insured mortgage stress test (effective December 12, 2023). Checked .
  3. OSFI — Straight-switch exemption and loan-to-income portfolio limits (effective November 21, 2024). Checked .
  4. CMHC — Calculating GDS / TDS. Checked .
  5. Justice Laws — Interest Act, R.S.C. 1985, c. I-15, s. 6. Checked .
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