Move-Up Equity Calculator

See the real numbers your bank runs before you start looking at houses.

Your Current Equity

Check at least 3 comparable sales within 500m from the last 90 days to estimate your current market value.

A. Current market value of your property

B. Outstanding mortgage balance

C. Selling costs (auto: 5% of value)

YOUR NET EQUITY

Your Target Purchase

What price range are you looking at? Use Realtor.ca for active listings in your target neighbourhood.

D. Target purchase price

E. Land transfer tax (auto-calculated for Toronto)

F. Closing costs (legal, inspection, moving)

NEW MORTGAGE NEEDED

Land transfer tax is auto-calculated using Ontario provincial + Toronto municipal rates. First-time buyers get a partial rebate, but move-up buyers do not.

The Stress Test

The bank qualifies you at the stress test rate (your contract rate + 2%, or 5.25%, whichever is higher), not your actual rate.

G. Combined gross annual household income

H. Your contract mortgage rate (%)

I. Monthly property tax on new home

J. Monthly heating estimate

Non-Housing Debt (for TDS)

K. Car payment(s)

L. Credit card minimums

M. Line of credit / student loans / other

Stress test rate used: 6.50%

GDS (Housing Costs Only)

0.0%

TDS (Housing + All Debt)

0.0%

GDS must be under 39% (insured) or ~35% (some uninsured lenders). TDS must be under 44% (insured) or ~42% (some uninsured). These are guidelines. A mortgage broker can shop across 30+ lenders with different thresholds.

Your Position

Net Equity

New Mortgage

GDS Ratio

0.0%

TDS Ratio

0.0%

Fill in your numbers above to see your move-up position.

This calculator provides general guidance only. It is not financial advice. Lending criteria vary by institution and individual circumstances. Always confirm your numbers with a licensed mortgage broker before making decisions.
Data sources: CMHC, OSFI mortgage qualification guidelines, Ontario land transfer tax schedules.