Your budget isn’t just your income — it’s income, debts, down payment and the rate you qualify at. Here’s what drives it, and what can move it.
What lenders look at
Lenders weigh your income against your housing costs and total debts (the “ratios”), plus your down payment and credit. You also have to qualify at a stress-tested rate, not just the rate you’re offered — which is why the number can surprise people.
The levers that raise it
A larger down payment, paying down other debts, and — a big one in Edmonton — income from a legal basement suite can all raise what you qualify for. A suite in particular can move the number by a lot.
Don’t just buy the maximum
Qualifying for a number and being comfortable with the payment are two different things. We help you find the payment you actually want to live with, then the price that fits it — not the other way around.
Note for launch: Keep ratio/stress-test specifics general — confirm current rules with Josh before adding numbers.
Frequently asked
How much home can I afford in Edmonton?
It comes down to your income, debts, down payment and the rate you qualify at (which is stress-tested). A legal basement suite can raise the number meaningfully. The fastest way to a real answer is a quick pre-approval with Josh.
Does a rental suite help me qualify for more?
Yes — lenders count a portion of the expected suite rent as income, which can raise your budget. How much varies by lender, so we confirm it for your file.
