How our estimates are made
Our editorial policy is simple: distinguish published mortgage rules from planning assumptions, link to the original sources, and show where the estimate is incomplete. We do not invent expert endorsements or promise approvals.
Payments and qualification
The payment estimate uses monthly payments and a nominal rate compounded semi-annually, not in advance. That is our model convention: the Interest Act (s. 6) allows a mortgage to state its rate yearly or half-yearly, and lender terms may vary. The affordability check uses the higher of your entered interest rate plus two percentage points or 5.25%, with CMHC's 39% GDS and 44% TDS qualification benchmarks. Individual lender requirements can differ. The comfortable range uses our own lower ratio assumptions, not a government threshold.
Insurance and down payment
Standard government-backed insurance is considered only below a $1.5 million purchase price. For eligible high-ratio 30-year owner-occupied scenarios, the separate CMHC Home Start traditional down-payment table is used, without adding the Purchase surcharge a second time. Nontraditional down-payment pricing is available as a separate scenario subject to program restrictions. The lender decides actual eligibility and product selection.
Taxes and closing expenses
Ontario and Toronto transfer taxes are calculated from published marginal brackets. Rebates are excluded by default: a federal or CMHC first-time status does not establish provincial or city refund eligibility. A confirmed eligible ownership share can estimate a partial rebate, subject to spousal and other restrictions. Other provinces' transfer taxes and specialized levies are excluded; any displayed amount there is a subtotal, not a complete cash-to-close figure. Legal and inspection fees are editable estimates.
Sources and editorial updates
Source links appear inside each calculator and guide. A displayed source-check date is recorded only after directly consulting that source; “verification pending” means we have not independently checked that rule for this review. Published rules can change, so confirm current terms with the original authority and a licensed professional. Guides are written for educational use, without invented authors, testimonials or claims of professional review.
Your data
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