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Our calculation method

Rules and rates updated on . The tables below come straight from the calculation engine: what you read here is exactly what the calculator uses.

1. Rates used

The rate depends on your file: insured loans usually get better rates than conventional loans or refinances. You can change it in your results.

2. Qualification

Lenders check that your housing costs (GDS) and total debts (TDS) stay below a percentage of your income, calculated at the stress-test rate.

3. Down payment and mortgage insurance

Minimum: 5% of the first $500,000, 10% of the portion from $500,000 to $1.5M, 20% at $1.5M and above. For a triplex or fourplex we use a 10% minimum.

4. Welcome tax (land transfer duties)

5. Ownership and closing costs

Average estimates used for the true monthly cost. Your actual costs may vary by property.

6. The role of AI

AI is used to understand your situation when you describe it in your own words, and to explain your results. It does no calculations: every number comes from the rules above.

Sources

OSFI Guideline B-20 (minimum qualifying rate)
CMHC: mortgage insurance premiums, rental income approach
Government of Quebec: land transfer duties, first-time buyer credit
Revenu Québec: QST on insurance premiums

For illustration only; not a loan offer or approval. Policies vary by lender.