Edmonton & Area · Alberta

How Much Home Can I Afford?

Get a realistic price range in under a minute. We apply the same mortgage stress test and debt limits Canadian lenders use, so there are no surprises when you apply.

Your income $

Co-buyer optional $

Gross annual income, before tax.

Down payment savings $

Include your FHSA, RRSP Home Buyers' Plan withdrawal, and any gifted funds.

Monthly debt payments $

Car loans or leases, student loans, lines of credit, and credit card minimums (about 3% of each balance).

Interest rate %

Amortization

Amortization 25 yrs 30 yrs

I'm a first-time buyer or buying a newly built home

Property tax, heating & condo fees

Property tax %/yr

Heating / mo $

Condo fees / mo $

Property tax is a share of the home's price (about 1% in the Edmonton area). Lenders count half of condo fees.

You could afford up to

Comfortable up to
Stretch up to

Mortgage amount
Includes CMHC insurance
Monthly mortgage payment
Total monthly housing cost

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How lenders see you

Housing costs vs. income (GDS)

Lender limit 39% (black mark). Comfortable at 32% or less (bronze mark).

All debts vs. income (TDS)

Lender limit 44% (black mark). Comfortable at 40% or less (bronze mark).

Your next steps

Get pre-approved. It locks in a rate for up to 120 days and tells sellers you're serious.
Max out your FHSA. Up to $8,000 a year, tax-deductible going in and tax-free coming out for your first home.
Plan for closing costs. Set aside about 1.5% of the price for legal fees, an inspection, and adjustments. Alberta has no land transfer tax.
Shop within your comfort zone. Leave room for maintenance, savings, and life.

Want a real number?Weina can connect you with trusted mortgage specialists for a free pre-approval, then show you homes that fit.

Talk to Weina

For illustration only. This is not a mortgage approval or financial advice. Lenders qualify you at the higher of your rate + 2% or 5.25% (the federal stress test), with housing costs up to 39% (GDS) and all debts up to 44% (TDS) of gross income; individual lenders may be stricter. Minimum down payment and CMHC insurance follow federal rules in effect since December 15, 2024. Payments assume semi-annual compounding. Your credit history, employment, and lender will determine your actual approval.