What does house poor mean in Canada?
House poor means too much income goes to housing, leaving little for life, emergencies, or savings. Banks approve on GDS and TDS ratios. That is not the same as emotional safety.
Behavioral lens: Optimism bias
Am I House Poor?
Canadian stress test math plus a behavioral safety check. See bank approval vs what is left for real life.
Educational estimates only. Not personalized advice. Data targets 2026 Canadian rules.
Financial inputs
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%
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Dining, travel, therapy, hobbies. The costs that keep you human.
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Psychological reality profile
Calculated lifestyle friction
You can manage this, but little room for mistakes or joy spending.
Max bank purchase (stress test)$467,025
Actual monthly payment (contract rate)$2,743/mo
Leftover mental buffer$574/mo
Stress test rate used7.10%
Freedom trade-off
At this approval level, borrowing about $467,025 may cost roughly 9.3 years of financial flexibility compared with a smaller home. That is travel, sabbaticals, or earlier optionality you give up when you max the bank limit.
Behavioral lens: Optimism bias
Optimism bias at the mortgage max
Lenders approve the payment you can survive on paper. Your brain approves the life you actually want. The gap between those two numbers is where house poor begins.
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Start your free trialFAQ
How does the Canadian mortgage stress test work?
Lenders qualify you at the higher of your contract rate plus 2% or 5.25%. Payments use semi-annual compounding, not US-style monthly compounding.
Is this PsyFi calculator free?
Yes. Every PsyFi free tool runs in your browser with no signup. We built them to pair accurate Canadian math with behavioral science, not to gate basic estimates behind an account.
Does PsyFi store what I type?
No. Inputs stay on your device. Nothing you enter is sent to PsyFi servers.
Is this personalized financial advice?
No. These are educational estimates using published Canadian rules for 2026. They are not tax, legal, mortgage, or immigration advice. Confirm current rates and your situation with qualified professionals before acting.
Estimates for education only. Not financial, tax, mortgage, immigration, or legal advice. Canadian rules and rates change. Verify current figures with qualified professionals before making decisions. PsyFi tools add behavioral context; they do not replace personalized planning.