Will I pass the Canadian mortgage stress test?
OSFI qualifies most new mortgages at the higher of your contract rate + 2% or 5.25% — not the payment you will actually make.
Your mortgage
Qualifying rate
6.29%
Higher of 6.29% (contract + 2%) and 5.25% (floor).
Contract payment
$2,167.43/mo
Qualifying payment
$2,628.58/mo
Rules verified Jul 13, 2026 · Methodology
Frequently asked questions
- What is the Canadian mortgage stress test?
- OSFI requires most new mortgages at federally regulated lenders to qualify at the higher of your contract rate plus 2 percentage points, or 5.25%. That qualifying payment is what GDS and TDS are tested against — not the payment at your contract rate.
- Do I have to pass the stress test at renewal?
- Same-lender renewals are typically exempt. Since November 2024, a straight switch to a new lender (same amount and amortization) is also exempt. Increasing the loan or extending amortization usually means you re-qualify.
- Is this the same as a pre-approval?
- No. This page estimates the qualifying rate and payment from the numbers you type. A licensed lender or broker still underwrites income, credit, and the property.