Stress Test Calculator 2020

Flag of CanadaCanada’s most transparent stress-testing calculator

Upcoming changes to the Mortgage Stress Test

On April 6th, the Benchmark Rate for the mortgage stress test for insured mortgages only will be set to the weekly median 5-year fixed insured mortgage rate as calculated by the Bank of Canada plus an additional 200 basis points. This was announced by Minister Morneau on Februrary 18th, 2020 as a measure to more dynamically and accurately follow real market mortgage rates.

At current 5-year fixed insured mortgage rates, this will be roughly equivalent to the current 5-Year Benchmark Rate of 5.19%. The new rate, however, will be published and fluctuate weekly. It is important to continue to monitor your stress test eligibility as your qualifying rates change.

As of the latest announcement on Februrary 18th, 2020, uninsured mortgages will continue to use the current 5-Year Benchmark Rate at 5.19% as their stress test benchmark rate.

Bookmark this page to keep updated on your stress test eligibility once the new Benchmark Rate is published. Our calculator will be updated with the latest Benchmark Rates as soon as they are published. The current 5.19% 5-Year Benchmark Rate still remains in effect and the new rates are predicted not to be significantly different from the current rate.

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)

2.43%*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.

Monthly Debt Paymentshelp

Some examples include: Credit Card, Student Loan, Car Payment, etc.

$ 0

Enter your average monthly payment. If you have multiple sources of debt, enter the total for your household.

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.