CLEAR INFORMATION
Useful estimates.
Informed decisions.
Professional scope
Kandice Moore is a Mortgage Agent Level 1 licensed in Ontario with BRX Mortgage Inc., FSRA #13463 (brokerage licence). A Level 1 agent arranges mortgages with eligible financial institutions and approved lenders under the National Housing Act. Transactions outside that scope require an appropriately licensed professional. Business-loan services or referrals may involve a separate provider; roles and compensation should be disclosed before proceeding.
Planning, not approval
Rates in the calculators are editable illustrations, not available offers. Calculations assume unchanged rates, regular payments and no prepayments. Actual lender calculations, rounding, fees and policies differ. No calculator evaluates credit, property acceptability or complete suitability. Estimates are not financial, legal or tax advice.
Residential tools
Canadian fixed-rate interest is modelled as nominal annual interest compounded semi-annually. The purchase model assumes an eligible owner-occupied property, a traditional down payment and an amortization of 25 years or less. Standard high-ratio default insurance is added to the mortgage, and Ontario’s 8% tax on the premium is shown as an upfront cost. Product surcharges, refunds and special programs are excluded. Other amortizations and variable-rate conventions need lender-specific review.
The qualifying tool uses the higher of the entered rate plus 2 percentage points or 5.25%, with illustrative GDS/TDS limits of 39%/44%. It includes annual property tax, monthly heat, half of condo fees and entered debt payments. Passing guidelines is not approval. Some renewal switches have exemptions; other lenders or products may differ.
Land transfer tax
This tool models a standard Ontario purchase of one or two single-family residences. Toronto is optional and uses municipal rates effective April 1, 2026. Selecting the first-time refund assumes every purchaser meets all provincial and applicable municipal requirements for the full refund. Ownership shares, spouse history, residency and occupancy can affect eligibility. A lawyer must confirm the amounts.
Non-resident speculation taxes, Toronto administration fees, legal costs, HST on applicable purchases and adjustments are excluded. The estimate is not total closing costs.
Commercial and business tools
Commercial payments use semi-annual compounding and monthly payments. DSCR means annual net operating income divided by annual debt service. The target is a planning assumption, not a lender rule. A balance remains at the selected maturity. Loan size by DSCR ignores equity, valuation and other underwriting limits.
The business tool uses nominal annual interest divided by 12, fixed monthly payments and a fully amortizing loan. The entered upfront fee is deducted from proceeds. Total cost includes interest and that fee, but is not an APR. The tool does not model merchant cash advances, factor rates, daily/weekly payments, other fees, taxes, interest-only facilities or variable rates.
Official reference points
Rules reviewed November 6, 2026. Confirm current requirements before relying on an estimate.