CMHC's guidelines cap housing costs at roughly 39 percent of gross income and total debt at 44 percent, and those two ratios, not the salary figure alone, decide the actual mortgage amount a lender will approve.
Existing debt narrows that room fast. A car payment or a credit card balance reduces what is left under the 44 percent ceiling, so two people earning the identical $150,000 can qualify for noticeably different amounts depending on what else they owe.
A full mortgage pre-approval turns those ratios into an exact number for your own finances. Get your hand-reviewed valuation from Joel Dyck.