Mortgage Affordability Calculator - 2025
Mortgages can be stressful, especially for first-time buyers. Use our calculator to check affordability or find ways to make payments manageable
Click Here for Affordability Calculator
How this app works?
This Affordability Calculator works based on the Ontario Standard
GDS and TDS which 99% of the lenders use these factors
to determine the borrowers eligibility for the
loan/mortgage.
What is GDS?
GDS stands for Gross Debt Services.
Its a proportion of your payments for Mortgage Principal + Mortgage Interest rate + the amount of money you pay for heat + The property tax + half of your Condo fee if the property is a condo
divided by your gross income in a percentage format.
Today's acceptable GDS is %.
If your GDS is less than the Ontario standard then you might get approved by some lenders.
Some private or subprime lenders will accept higher GDS amount but you might need to pay for the insurance
Its a proportion of your payments for Mortgage Principal + Mortgage Interest rate + the amount of money you pay for heat + The property tax + half of your Condo fee if the property is a condo
divided by your gross income in a percentage format.
Today's acceptable GDS is %.
If your GDS is less than the Ontario standard then you might get approved by some lenders.
Some private or subprime lenders will accept higher GDS amount but you might need to pay for the insurance
What is TDS?
TDS stands for Total Debt Services.
For some lenders this factor is more important than GDS.
Its a proportion of your payments for Mortgage Principal + Mortgage Interest rate + the amount of money you pay for heat + The property tax + half of your Condo fee if the property is a condo + all the payments you make to your debts, like Credit Cards, Car loans and others
divided by your gross income in a percentage format.
Today's acceptable TDS is %.
If your TDS is less than the Ontario standard then you might get approved by most of the lenders.
Some private or subprime lenders will accept higher TDS amount but you might need to pay for the insurance
For some lenders this factor is more important than GDS.
Its a proportion of your payments for Mortgage Principal + Mortgage Interest rate + the amount of money you pay for heat + The property tax + half of your Condo fee if the property is a condo + all the payments you make to your debts, like Credit Cards, Car loans and others
divided by your gross income in a percentage format.
Today's acceptable TDS is %.
If your TDS is less than the Ontario standard then you might get approved by most of the lenders.
Some private or subprime lenders will accept higher TDS amount but you might need to pay for the insurance
Total Household Income
This number is the sum of all the income
receives in a household in one month before tax, if you
have spouse you need to add his/her income to this
number.
If you are self employed or work on commission basis you can enter the average safe income per moth in this section.
If you are self employed or work on commission basis you can enter the average safe income per moth in this section.
Monthly Payments to Your Credit Cards
You need to add the amounts you pay to
your all of your credit cards per months and mention it
here, if you are not sure or you pay variable payments
every month you can add all your balances of your credit
cards and calculate 3% of it fir this field (all the
balances X 3%)
