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Old 01-08-2015, 09:26 AM   #1
Mortgage Made Easy
Crash and Bang Winger
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Join Date: Sep 2014
Location: Calgary, AB
Default How much you need to earn? - To buy a house in every major Canadian city?

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.
Tim Lacroix | 403-648-1541
Mortgage. Made Easy Experts
Kardia Mortgage Inc

If you have any questions please feel free to PM me or email

Click here to View current Mortgage Rates

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