Canada Mortgage Stress Test Calculator
Work out the qualifying rate, CMHC insurance premium and stress-tested payment for a Canadian mortgage, with your GDS and TDS ratios.
Qualifying rate: the greater of 5.25% or your contract rate + 2% (OSFI). At 4.5% you qualify at 6.50%. Down payments under 20% add a CMHC premium of 2.80%–4.00% of the loan (CMHC).
Build your scenario
Use your actual figures where available. The output is an educational estimate based on the assumptions below.
Figures used
- Minimum qualifying rate for uninsured mortgages: the greater of the contract rate plus 2% or 5.25% (OSFI, checked 22 Oct 2026). This calculator applies the same test to every scenario as an illustration; insured mortgages follow federal rules your lender will confirm.
- CMHC premium on the total loan by loan-to-value: up to 65% 0.60%; 65.01–75% 1.70%; 75.01–80% 2.40%; 80.01–85% 2.80%; 85.01–90% 3.10%; 90.01–95% 4.00% (CMHC, checked 22 Oct 2026). The premium is only added here when the down payment is under 20%. In Quebec, Ontario and Saskatchewan provincial sales tax applies to the premium and cannot be added to the loan.
GDS = (payment + property tax + heating + half of condo fees) ÷ gross monthly income. TDS adds other debts. CMHC limits debt service ratios to 39% GDS and 44% TDS, calculated at the greater of the contract rate plus 2% or 5.25% (CMHC: Calculating GDS / TDS, CMHC general requirements, checked 22 Oct 2026). The pass/fail here uses those CMHC limits. OSFI sets the qualifying rate but not fixed GDS/TDS limits for uninsured mortgages, so lenders set their own, which may be stricter. Credit card and line of credit payments should be at least 3% of the balance, per CMHC.
Minimum down payment and the insured price cap
| Purchase price | Minimum down payment |
|---|---|
| C$500,000 or less | 5% of the price |
| C$500,000 to under C$1.5 million | 5% of the first C$500,000 + 10% of the portion above C$500,000 |
| C$1.5 million or more | 20% of the price (mortgage loan insurance not available) |
Since 15 December 2024 the price cap for insured mortgages has been C$1.5 million (up from C$1 million), so a down payment under 20% is only possible below that price. Example: a C$600,000 home needs at least C$25,000 + C$10,000 = C$35,000 down. Sources: Financial Consumer Agency of Canada: down payment, Department of Finance Canada, 15 Dec 2024, CMHC general requirements, checked 22 Oct 2026. Lenders can ask for more, for example if you are self-employed.
Worked example
C$600,000 price, C$60,000 down (90% LTV): premium 3.10% = C$16,740.00, loan C$556,740.00. At 4.5% contract the qualifying rate is 6.50%, and the stress-tested payment over 25 years (semi-annual compounding) is C$3,729.18. GDS 33.3% and TDS 37.3%, so it passes the CMHC 39% and 44% limits. The C$60,000 down payment is above the C$35,000 minimum.
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Frequently asked questions
What is the mortgage stress test rate in 2026?
The greater of 5.25% or your contract rate plus 2%, per OSFI. At a 4.5% contract rate, that is 6.50%.
Worked example: what is the CMHC premium with 10% down?
With 10% down the loan-to-value is 90%, so the premium is 3.10%. On a C$540,000 loan that is C$16,740.00, added to the loan.
Is there a premium with 20% or more down?
Insurance is generally needed only for down payments under 20%, so this calculator adds no premium then.
Educational information only; not financial, tax, legal, or investment advice.