Real Estate

Question about stress test calcuator

  • Last Updated:
  • Sep 30th, 2022 8:57 am
Member
Dec 22, 2007
354 posts
51 upvotes
Thornhill

Question about stress test calcuator

Hi all

I am trying to find out the qualifying amount based on income.
Is the rate they use consists of Fixed rate (5.25) plus (2%)?
or the interest rate you negotiate with your lender plus 2%?

I've just been using this one off the government
https://itools-ioutils.fcac-acfc.gc.ca/ ... c-eng.aspx
1 reply
Deal Addict
Mar 22, 2010
4133 posts
2172 upvotes
It is higher of 5.25% or your rate +2%.

Given that offered rates are high these days, most likely it will be your rate from the bank plus 2% will be used as stress test.

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