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Pre-Approval Sanity Check - Is Your Buying Range Safe?

Your pre-approval is a ceiling, not a target. Here's your real comfort zone.

Current Rates — Insured Mortgages

Updated 2026-04-06
3-Year Fixed 4.34%
5-Year Fixed 4.39%
5-Year Variable ? 3.7%
The variable rate is calculated as the lender's prime rate (currently 4.45%) plus or minus a lender adjustment. Your variable rate can change with each Bank of Canada announcement.

Does this rate apply to your situation? Book 15 minutes to find out.

Rates subject to change at any time without notice. These rates are for insured mortgages (down payment under 20%). Confirm your rate.

This tool provides estimates for informational purposes only. Actual rates and results depend on your specific situation. Rates last updated 2026-04-06. Rates are subject to change at any time.

Your Pre-Approval Is a Ceiling, Not a Target

Getting pre-approved is an important step - but the number your bank gives you is the maximum they’ll lend, not necessarily what you should spend. This tool shows your real comfort zone.

Safe vs. Stretch vs. Danger

Your “safe zone” is where housing costs stay under 30% of gross income - you’ll have room for savings, emergencies, and life. The “stretch zone” (30-39%) is technically within lending guidelines but leaves less margin. Above 39% is the “danger zone” - most lenders won’t approve this, and for good reason.

Is Your Pre-Approval Rate Competitive?

Banks don’t always offer their best rate at pre-approval. If your rate is higher than what’s available through a broker, you may be limiting your options unnecessarily. A 15-minute review can tell you where you stand.