How Much Mortgage Do I Qualify For in Alberta?

It uses typical Canadian lender guidelines: housing costs at the qualifying (stress-test) rate should stay within about 39% of gross monthly income (GDS), and housing costs plus other debts within about 44% (TDS). The qualifying rate is the greater of the contract rate you enter plus 2%, or 5.25%. Default-insurance premiums and minimum down-payment rules are applied the same way as on the payment calculator. The worked example at the top of this page uses a labelled 5.00% example contract rate (qualifying at 7.00%). That is an illustration only, not a posted rate. See today's posted rates on the Alberta mortgage rates page. The result is an estimate of a purchase price you may be able to afford, not a decision that you qualify or are approved.

Federally regulated lenders, and insured mortgages, test whether you can carry the payment at a qualifying rate that is the greater of your contract rate plus 2 percentage points or 5.25%. OSFI publishes that minimum qualifying rate for uninsured mortgages, and the same formula is used for insured mortgages. This page uses that rule, verified in November 2026. The estimated monthly payment shown is at the contract rate; the ratios use the higher qualifying rate.

For unsecured revolving credit, lenders typically do not use the minimum payment. A common guideline is 3% of the balance owing. A $10,000 credit-card balance is therefore treated as $300 a month in the total-debt calculation, even if your statement payment is lower. You can add more than one card. Student loans, car loans or leases, and other instalment debts are entered as the actual monthly payment.

Gross debt service includes the mortgage principal-and-interest payment at the qualifying rate, estimated property tax, estimated heat, and 50% of any condominium fees (CMHC guidance). Total debt service adds other monthly debts, including 3% of credit-card and unsecured line-of-credit balances. The tax and heat figures are your estimates; they are not looked up for a specific Alberta property, so update them for the home you have in mind.

No. This calculator is for educational and illustration purposes only. Results are estimates, not a mortgage approval, pre-approval, or commitment to lend. Actual qualification depends on a full application, credit review, income and property verification, and lender approval (OAC). To find out what you qualify for, apply for a lender pre-approval or book a call with John Antle, Sub Mortgage Broker - Team Lead, Pineapple National Inc.

Yes, by default. The form tells you that John Antle, Sub Mortgage Broker - Team Lead, Pineapple National Inc., will also receive a copy, and you can tick an optional box if you do not want that copy sent. If you tick it, John is not emailed the results and your income and debt figures are not stored. A separate, unticked box asks whether he may email you in about two days to ask if you would like to apply for a pre-approval. That follow-up is optional and you can unsubscribe.