AlbertaSell Real Estate • The Counselor

Alberta Mortgage Pre-Qualification Calculator

Estimate the home price and mortgage you may qualify for using Canadian stress-test, GDS and TDS guidelines. It is free, private and updates instantly.

Alberta-focused Private on your device No signup required

Income and debts

Use gross household income before tax and the required monthly payments shown on your credit accounts.

Car loans, credit-card minimums, student loans, lines of credit and support payments.
The calculator estimates a payment at 3% of the balance. Enter actual monthly payments when possible.

Current rent and general living expenses are saved for your discussion with a professional but are not added to GDS or TDS. Enter debt obligations above.

Down payment and property

Add a property if you have one in mind, or use the fields to test a general scenario.

Projected short-term rental income is not accepted the same way by every lender. Test the scenario with 0% rental add-back and confirm the real treatment before making an offer.

Expected rental income

For a move-in purchase, the calculator assumes you occupy one unit. For an investment purchase, it assumes all units are rented.

Estimated housing costs

Monthly estimates for the home you plan to buy. Fifty percent of condo fees is used in GDS and TDS.

Mortgage assumptions

The qualifying rate automatically uses the greater of your expected rate plus 2% or 5.25%.

For insured mortgages, a 30-year amortization is generally limited to first-time homebuyers or buyers of new builds. Other eligibility rules may apply.

Need a current input? View the Bank of Canada policy rate Compare current mortgage rates

How the estimate works

A useful first step before a lender reviews your file

The calculator uses your income, required monthly debts, expected housing costs, down payment and mortgage assumptions. It then applies common Canadian lender guidelines to estimate a maximum mortgage and home price.

01

Stress-tested payment

Your borrowing room is tested at the greater of the expected mortgage rate plus 2% or 5.25%, not only at the payment rate.

02

GDS and TDS limits

Housing costs are measured against 39% GDS, while housing plus recurring debts are measured against 44% TDS.

03

Rental-income scenario

For duplexes through fourplexes, you can test how a lender counting 0%, 50% or 80% of expected rent may change the estimate.

Official references: OSFI minimum qualifying rate CMHC GDS/TDS guidance FCAC down-payment rules

Frequently asked questions

Alberta mortgage qualification basics

Is this calculator a mortgage pre-approval?

No. It is an educational estimate based on the information you enter and common debt-service guidelines. A lender or licensed mortgage professional must verify your income, credit, debts, down payment and property details before issuing a pre-approval or approving financing.

What mortgage stress-test rate does the calculator use?

It uses the greater of your expected contract rate plus 2 percentage points or 5.25%. The qualifying rate is shown beside your mortgage assumptions and updates automatically.

What are GDS and TDS?

Gross Debt Service measures qualifying housing costs against gross income. Total Debt Service adds required monthly debts. This calculator uses guideline maximums of 39% GDS and 44% TDS.

Can rent from a legal suite, duplex or fourplex help me qualify?

It may. Rental-income treatment varies by lender, property type and whether you occupy part of the property. The calculator defaults to a conservative 50% add-back and lets you test 0% or 80%, but a lender must confirm the amount it will use.

Does the estimate include mortgage default insurance?

No. If your down payment is below 20%, mortgage default insurance may be required and the premium can usually be added to the mortgage. That premium, closing costs and lender-specific adjustments are not included in the displayed payment.

Important: This calculator is for general planning only. It is not financial advice, a mortgage application, a pre-approval or a guarantee of financing. Results do not account for credit history, employment type, lender policy, mortgage insurance premiums, closing costs or every debt obligation. Confirm all figures with a licensed mortgage professional before waiving a financing condition or making a purchase decision.