According to
The Star post Calgary home owners require approx. $88,578 annual income.
NOTE: It assumes no other debts (credit cards, loans, etc).
However our calculation are slightly different... the above is being conservative at 32% GDS and 32% TDS. The income level would look to be closer to $81,000 which would yield 35% GDS and 35% TDS.
Depending on credit scores, the GDS and TDS guidelines come into play. Credit scores:
< 680 the guidelines are 35% GDS and 42% TDS
> 680 the guidelines are 39% GDS and 44% TDS
NOTE: Some lender guidelines are different depending on products such as HELOC's, Rentals etc.