GDS/TDS impact · OSFI B-20 · Free
Condo Fee Affordability Calculator Canada
A $700/month condo fee can reduce your maximum mortgage by $85,000 or more — because lenders count 50% of it in your GDS ratio. See exactly how much your condo fee reduces your buying power and whether you still qualify at your target price.
Educational calculators — always consult a licensed professional before making financial decisions.
Combined income if buying with a partner. Lenders use gross income for GDS/TDS ratio calculations.
Your available down payment. This affects your purchasing power alongside the condo fee.
Lenders count 50% of the monthly condo fee in your Gross Debt Service (GDS) ratio, reducing your qualification.
Car loans, student loans, credit card minimums. Enter $0 if none. These reduce your TDS ratio headroom.
Max Affordable With Condo Fee
$422,000
incl. $700/mo fee
The condo fee has a modest impact on your qualification ($48K reduction).
Debt Service Ratios (at max purchase)
Gross Debt Service (GDS)
Mortgage + taxes + heat + 50% condo fee ÷ income. Must be ≤32%.
Total Debt Service (TDS)
GDS + all other debts ÷ income. Must be ≤44%.
Lenders count 50% of monthly condo fee in GDS/TDS. Assumes 5.49% rate, 25yr amortization, stress test at 7.49%.
Your Saved Scenarios
No saved scenarios yet
What you'll need
- ·Your gross annual household income
- ·Down payment available
- ·Monthly condo fee of the unit you're considering
- ·Any existing monthly debt payments (car, student loans)
What you'll get
- ✓GDS/TDS ratios — With condo fees factored in
- ✓Buying power reduction — Vs. an equivalent freehold home
- ✓Qualification check — Whether you still qualify at your target price
How it works
Enter your income, down payment, and monthly condo fee
We use your gross income and the condo fee to calculate GDS and TDS ratios under OSFI's B-20 stress test rules.
Add any existing monthly debts
Car payments, student loans, and credit card minimums reduce your TDS headroom. Enter $0 if you have no existing debts.
See your maximum purchase price with and without the fee
Compare how much you qualify for with the condo fee vs. without it — the difference is your buying power reduction from the condo fee.
$120K Income, $100K Down, $700/mo Condo Fee — Qualification Impact
| Scenario | Max Purchase Price | Buying Power Lost |
|---|---|---|
| No condo fee (freehold) | $785,000 | — |
| $700/mo condo fee | $698,000 | $87,000 |
| $900/mo condo fee | $660,000 | $125,000 |
| $1,100/mo condo fee | $622,000 | $163,000 |
Based on 5.49% rate, stress test at 7.49%, 25yr amortization, 32% GDS / 44% TDS limits. Every $100 in monthly condo fee reduces buying power by ~$17,000.
About this calculator
How do condo fees affect mortgage qualification in Canada?+
Canadian lenders count 50% of monthly condo fees in your Gross Debt Service (GDS) ratio. A $700/month condo fee effectively consumes $350 of your monthly housing budget for qualification purposes. This reduces your maximum mortgage by roughly $70,000–$85,000 compared to buying a freehold home with the same income.
What is the GDS ratio for condos in Canada?+
The Gross Debt Service (GDS) ratio must not exceed 32% of gross income. For condos, GDS includes: monthly mortgage principal and interest + property taxes + heating costs + 50% of condo fees. All four must sum to ≤32% of gross monthly income. The TDS (Total Debt Service) adds all other debts and must be ≤44%.
Is a high condo fee a red flag when buying in Canada?+
Very high condo fees relative to the purchase price can signal poor reserve fund management, deferred maintenance, or an aging building requiring major repairs. Review the condo corporation's reserve fund study — a well-funded building should have 70%+ of its required reserve funded. Special assessments are most common in buildings with underfunded reserves.
What is a typical condo fee in Toronto and Vancouver?+
In Toronto, typical condo fees range from $0.60–$1.00 per square foot per month. A 700 sq ft condo pays $420–$700/month. Vancouver fees are similar at $0.50–$0.85/sqft. Newer buildings with more amenities (concierge, pool, gym) tend toward the higher end. Fees typically increase 3–5% annually.
Know your real buying power before falling in love with a condo.
Back to the calculator ↑Condo Fee Affordability Calculator Canada is built and maintained by the RealCostIQ editorial team. Cost ranges and rates are checked against published industry data and contractor quotes, and revised when the underlying figures move. Read our data methodology or more about who builds this. Every calculation runs in your browser — no account, and none of your inputs are stored.
Cost ranges and rates here are checked against contractor quotes and published industry data. If a number still looks off, email Support@RealCostIQ.com and we'll review and fix it.