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Could we afford to move up?

Selling one home to buy the next means juggling a sale price, a mortgage payout, a possible penalty, commission, land transfer tax and a stress test, all at once. This puts them together and estimates the price range your equity and income could support, and what the new payment might be. Nothing you enter leaves your browser.

Start with the sale, then the purchase. The starting figures are an example; replace them with your own. Nothing you enter leaves your browser, and this is an estimate rather than a pre-approval.

1 · Selling your home

Expected sale pricerequired
Mortgage balancerequired
Your current rate (%)
Rate type
Months left in your term
What you pay now, a month
Realtor commission (% incl. HST)
Legal fees on the sale

2 · Your current mortgage

Port it or break it?
Prepayment penalty

Left blank, this uses a rough estimate that may be low for a big-bank fixed mortgage. The break penalty calculator works out a fuller estimate.

3 · Additional funds

Savings or a gift toward the purchase

4 · Buying your next home

Household income before tax, a yearrequired
Other debt payments, a month
New mortgage rate (%)
Amortization
Newly built home, or a first-time buyer?
Buying in the City of Toronto?
Property tax (% of price, a year)
Heating, a month
Condo fees, a month
Buying costs

Estimate · price range the scenario suggests

$1,038,000 to $1,060,000

About $493,316 down and a mortgage of about $566,684, based on the information entered. The lower figure is the same scenario with the new rate half a point higher. What sets the top of the range here is the income test (the stress-tested payment against 39% and 44% of income).

Cash you’d put down, at $1,060,000

Sale price$1,500,000
Mortgage paid off− $900,000
Penalty (estimated)− $10,009
Commission and legal on the sale− $76,500
Land transfer tax on the purchase− $17,675
Buying costs− $2,500
Down payment$493,316

Mortgage the scenario could support

Mortgage at the top of the range$566,684
Contract rate4.29%
Stress-test qualifying rate6.29%
Housing costs to income (limit 39%)39.0%
All debts to income (limit 44%)39.0%
Amortization25 years

The payment

What you pay now$5,000 a month
Estimated new payment at the top of the range$3,071 a month
Difference$1,929 less a month
Estimated property tax on the new home$883 a month
$1,200,000
$100,000$1,700,000

Short by $159,758 of mortgage

Land transfer tax$20,475
Down payment available$490,516
Minimum down payment at this price$95,000
Mortgage needed$709,484
Mortgage the income supports at this price$549,726
Estimated payment$3,844 a month

More savings, a smaller debt payment or a different price each change this.

An estimate based on the information entered, not a pre-approval. Lenders also look at your credit, employment and income history, the property itself and their own policies, and they qualify you at the greater of your rate plus 2% or 5.25%. Rules last reviewed 28 September 2026.

For informational purposes only. You may wish to confirm with a licensed mortgage professional before making an offer.

Talk to a broker about moving

How the estimate works

The cash from the sale

Sale price, less the mortgage, any penalty, commission and legal fees, plus any savings or gift. From that, the land transfer tax and closing costs on the new home are taken off, and what is left is the down payment. The land transfer tax uses the same engine as our standalone calculator.

Port or break

Porting assumes no penalty, with the ported balance at your current rate and new money at today’s, averaged by amount. Breaking a variable mortgage uses three months’ interest. For a fixed mortgage the default is a rough figure, and the break penalty calculator gives a fuller estimate you can enter instead.

The income test

The payment is tested at the greater of the rate plus 2% or 5.25%. With property tax, heating and half of any condo fees it must stay within 39% of gross income, and within 44% once other debts are added. These are the federal limits for insured mortgages, and many lenders use similar ones for uninsured mortgages.

Solving for the price

Land transfer tax, the minimum down payment, any mortgage insurance premium and property tax all grow with the price, so the top of the range is found by testing prices until every rule is just met. Below 20% down the premium is added to the mortgage, and above $1.5 million 20% down is required. The lower end of the range repeats the test with the rate half a point higher.

Common questions

How much house can I afford if I sell my house in Ontario?
Two things set the answer. The first is cash: what the sale leaves after the mortgage, any penalty, commission and legal fees, less the land transfer tax and closing costs on the new home. The second is income: lenders test the new payment at a higher rate and compare it, with property tax and heating, to your income. The price is whichever limit you reach first, and because land transfer tax and the minimum down payment both rise with the price, the calculator solves for it rather than simply adding the two together.
What is the mortgage stress test in 2026?
Lenders qualify you at the greater of your contract rate plus 2 percentage points, or 5.25%. It applies to insured and uninsured purchases alike. Since November 2024, an uninsured borrower who switches lenders at renewal without borrowing more is exempt, but a purchase with a new or larger mortgage is tested.
What is the difference between porting and breaking my mortgage when I move?
Porting moves your existing mortgage to the new home. It usually avoids the penalty, and the balance you carry over keeps its current rate for the rest of the term, while any new money is at today's rate, blended together. Breaking pays the mortgage off from the sale, with a penalty, and the new home gets a new mortgage at today's rate and terms. Which costs less depends on the penalty and on how your current rate compares with today's, and the calculator shows both. Lenders set their own porting rules, including how soon the purchase must close after the sale.
How much do I need for a down payment on my next home?
For homes under $1.5 million, 5% of the first $500,000 and 10% of the part above it. At $1.5 million or more, 20% of the whole price, because mortgage insurance is not available at that price. With less than 20% down the mortgage must be insured, and the premium, from 2.8% to 4% of the loan, is added to the mortgage. In Ontario, 8% sales tax on the premium is paid in cash at closing.
What are GDS and TDS?
Gross debt service is the share of your gross income that goes to the stress-tested mortgage payment, property tax, heating and half of any condo fees. Total debt service adds your other debt payments. The usual limits for an insured mortgage are 39% and 44%, and many lenders use similar limits for uninsured ones. Some allow more for strong applications, and some less.
Can I get a 30-year amortization on my next home?
With 20% or more down, many lenders offer 30 years. With less than 20% down, the mortgage is insured and a 30-year amortization is limited to first-time buyers and newly built homes, with an extra 0.20% on the insurance premium. Someone selling a home to buy another is not usually a first-time buyer, so a new build is the more common route.
Is this a pre-approval?
No. It is an estimate based on the figures you enter. A lender or broker will look at your credit, how your income is earned and documented, the property and their own policies, and their answer can differ in either direction. A broker can give you a pre-approval with a rate hold.
Is anything I enter stored or shared?
No. The calculator runs entirely in your browser and nothing you type is sent to us.

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Rules last reviewed 28 September 2026. An estimate, not a pre-approval: lenders also look at credit, employment, the property and the stress test. For a pre-approval and a rate hold, book a call with a broker.