How Much House Can I Afford?

The rules we apply (2026)

• Stress test: you must qualify at the greater of your rate + 2% or 5.25% (OSFI; CMHC applies the same to insured mortgages).
• Debt service: housing costs (payment at the qualifying rate, property tax, heating, 50% of condo fees) up to 39% of gross income (GDS); all debts up to 44% (TDS).
• Down payment: at least 5% of the first $500,000 and 10% of the rest. 20% at $1.5 million or more (no insurance available).
• CMHC premium if you put down less than 20%: 2.80% / 3.10% / 4.00% of the loan by loan-to-value, plus 0.20% for a 30-year amortization. It's added to the mortgage.
• 30-year insured amortization only for first-time buyers or new builds; insured mortgages otherwise max out at 25 years.

Estimates we fill in for you

Heating comes from our heating estimator: a 95% gas furnace for the size you enter, with the last 12 months of actual regulated gas rates and delivery charges, averaged over 12 months. Property tax defaults to Grande Prairie's 2026 residential rate (12.1656 mills, Bylaw C-1493). For other cities, enter your own rate. Not included: closing costs (legal fees, title insurance, moving), which you need in cash on top of the down payment. Alberta has no land transfer tax, but registration fees apply.