Anyone who wants to buy a house or condo is asking this question: How much will I qualify for? Under the new mortgage rules, brought in by the federal government in October 2016, home buyers who put down less than 20% need to qualify for the ‘posted’ interest rates. These rates are currently around 4.6%. Here is a mortgage affordability calculator to help you in your preparation. Please note that this is simply a tool: buyers will still need to be properly pre-approved thru their lenders.