Calculator · Income Required
What income do you need for this mortgage?
Lenders qualify you on GDS (housing ≤ 39% of gross income) and TDS (housing + debts ≤ 44%). This reverses the math: enter the home and we'll show the household income a lender would want to see.
Live math · no calculate button| Canadian semi-annual compounding · OSFI B-20| Ontario + Toronto LTT-aware| Same engine our advisors use
Your inputs
$720k
$144k
5.04%
$400
Household income needed
$127,000
To qualify on a $576,000 mortgage
The math (monthly)
Principal + interest$3,363
Property tax (est.)$600
Heat (est.)$150
Total housing (PITH)$4,113
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Methodology · Canadian-correct
Estimate using GDS 39% / TDS 44% guidelines and ~1% property tax + $150 heat. Actual qualification uses the stress-test qualifying rate and your verified income/debts. O.A.C.
Mortgage glossary— terms that matter for this calculator
How much income do I need to buy a house in Canada?
It depends on price, down payment, rate, and your other debts. Lenders cap housing costs at ~39% of gross income (GDS) and total debt at ~44% (TDS). This calculator solves for the income that satisfies both at the qualifying rate.
What counts as housing cost (PITH)?
Principal + Interest + property Taxes + Heat (and half of condo fees, where applicable). We estimate property tax at ~1%/yr and heat at $150/mo — your advisor refines this with the real figures.
Does the stress test change the income I need?
Yes — lenders qualify you at the greater of your contract rate +2% or 5.25%. Use our stress test calculator to see the qualifying-rate impact.
Can two incomes combine to qualify?
Yes — co-applicants' incomes add together (and their debts too). A co-signer or larger down payment can also bridge a gap. We model the whole household.
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