Step 1 of 5 — Credit Profile
What is your approximate credit score?
Your credit score is one of the most important factors lenders use to determine approval and rate.
Step 2 of 5 — Employment
What best describes your employment situation?
Lenders want to see stable, verifiable income. Salaried employees typically have the easiest time qualifying.
Step 3 of 5 — Down Payment
How much have you saved for a down payment?
In Canada, 5% is the minimum on homes under $500K. 20%+ avoids CMHC mortgage insurance.
Step 4 of 5 — Debt Ratios
Estimate your Gross Debt Service (GDS) ratio.
GDS = (Monthly housing costs ÷ Gross monthly income) × 100. Canadian lenders typically require GDS below 39%.
Step 5 of 5 — Credit History
How would you describe your recent credit history?
Lenders look beyond your score at the narrative behind it — bankruptcies, collections, and late payments all matter.