Alberta affordability
Income needed for a $400,000 mortgage
As a planning estimate, you need roughly $102,000/year in gross household income to carry a $400,000 mortgage at 5.49% — qualifying under the stress test with a 39% GDS limit. See how the rate changes it below.
Last reviewed against current CMHC, OSFI, and CRA rules.
Income needed by interest rate
Gross annual household income to qualify for a $400,000 mortgage, stress-tested, with a 25-year amortization and no other debts.
| Contract rate | Stress-test rate | Income needed |
|---|---|---|
| 4.49% | 6.49% | $95,000/yr |
| 4.99% | 6.99% | $98,000/yr |
| 5.49% | 7.49% | $102,000/yr |
| 5.99% | 7.99% | $106,000/yr |
| 6.49% | 8.49% | $110,000/yr |
GDS-based planning estimate. See how we calculate.
Add your real debts and down payment
Car loans, credit cards, and your down payment all change the income you need. Run your exact situation in the affordability calculator.
Open the affordability calculator →Income for a $400,000 mortgage — FAQ
- How much income do I need for a $400,000 mortgage in Alberta?
- As a planning estimate, about $102,000 in gross annual household income at 5.49%, qualifying under the stress test with a 39% GDS limit and modest property tax and heating. Other debts, your down payment, and condo fees change this.
- What assumptions does this use?
- A 25-year amortization, the OSFI stress test (the higher of your rate + 2% or 5.25%), about $3,000/yr property tax, $150/mo heating, and no other monthly debts. It is a gross-income, GDS-based estimate.
- Will other debts change how much income I need?
- Yes. Car loans, credit cards, and lines of credit count toward your TDS ratio (max 44%), which can raise the income you need. Run the affordability calculator with your real debts for a personalized figure.
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