01
How the estimate works
A common bank qualification test uses the greater of 5.25% or the contract interest rate plus two percentage points. This checks affordability under a higher-rate scenario.
02
What counts
Lenders review income, debts, property taxes, heating and part of any condo fees. Credit, documentation and lender policies also matter.
03
An estimate is not a decision
Our tool uses illustrative debt-service limits. Rules and exceptions can differ by transaction, including some mortgage switches. Ask Ashab to review your circumstances.
General information only. Product availability, eligibility and conditions vary by lender and application.