Stress Test Calculator 2020

Flag of CanadaCanada’s most transparent stress-testing calculator
July 19, 2019
Updated to reflect the Bank of Canada’s decision to lower the five-year benchmark rate from 5.34% to 5.19%.

Worried about your mortgage stress test? Find out whether you could pass, and why, with our stress test calculator.

Mortgage Terms

Purchase Pricehelp

The purchase price of your home.

$ 500,000

Down Paymenthelp

The amount paid upfront. In Canada, the minimum down payment is 5%. Mortgage default insurance (commonly referred to as CMHC insurance) is required for down payments under 20%.

20% = $100,000

Interest Ratehelp

The annual interest rate on the mortgage loan amount. A lower interest rate can drastically reduce your mortgage payments.

3.00 %

Our Rate (5 Yr. fixed)

2.60%*Get This Low Rate


Amortization Period

25 Years

Unsure about your purchase price? Find out how much you can afford.

Annual Household Income

Your Income

$ 70,000

Your Partner’s Income

$ 70,000

Enter your annual income before taxes.
Gross Income: $00
Estimated Net Income: $00

Where are you looking to buy?





What type of home are you looking for?

Condo Apt.
Detached House
Not Decided

Monthly Non-Housing Expenses

Food & Groceries

$ 1,000

Car & Transport

$ 500

Bills (e.g. Phone, TV)

$ 300

Childcare & Education

$ 0

Other Expenses

$ 0

Enter your average monthly expenses in each of the above categories, excluding any housing-related expenses. Exclude your heating costs from your utility bill total.
Total: $2,0002.00k

Monthly Debt Payments

Credit Card Interest

$ 0

Student Loans

$ 0

Car Loans

$ 0

Other Loans

$ 0

Enter your average monthly payment for each of the above types of debt. If you have multiple sources of debt in the same category, enter the total for your household.
Total: $00

This calculator is provided for general information purposes only. WOWA does not guarantee the accuracy of information shown, and is not responsible for any consequences of the use of the calculator.
* Rates shown are on approved credit and subject to change without notice.