Decision tools

Mortgage calculators

Choose a calculator. Each tool opens on its own page, with its assumptions and inquiry options.

Mortgage Payment CalculatorEstimate mortgage payments, compare payment frequencies, and explore optional extra payments.Open calculator →Mortgage Refinance CalculatorCompare keeping your current mortgage with refinancing, including the fees you enter.Open calculator →Mortgage Affordability CalculatorExplore an estimated home-buying budget and review your monthly household costs.Open calculator →Ontario Closing Cost CalculatorBuild an itemized estimate of cash closing costs, separate from your down payment.Open calculator →Ontario Land Transfer Tax CalculatorEstimate Ontario and Toronto land transfer tax using your purchase scenario.Open calculator →Mortgage Insurance Premium CalculatorEstimate the mortgage default-insurance premium and Ontario tax for your scenario.Open calculator →GDS and TDS Ratio CalculatorExplore debt-service ratios and compare a purchase scenario with your chosen limits.Open calculator →Rent vs Buy CalculatorCompare estimated renting and buying costs under the assumptions you enter.Open calculator →

Qualification guide

What a lender needs to see.

Use this as a document and eligibility checklist for employed or self-employed income. It separates the main-lender route from alternate programs, so you can see where the rules and trade-offs change.

Employed, self-employed, and alternate-lender requirements

Main / prime lender path

Published bank requirements, with CMHC’s insured framework.

TD planning targets35% / 42%GDS / TDS should be at or below these levels.

CMHC insured maximums39% / 44%Maximum GDS / TDS, subject to the lender’s own approval.

CMHC stress test+2% or 5.25%Qualify at the greater of contract rate + 2% or 5.25%.

Employed borrowers

A practical prime-lender checklist based on RBC’s published borrower guide, TD’s affordability guidance, and CMHC’s insured criteria.

Income and identity documents

Valid government-issued identification.
A recent pay stub or T4 as proof of income.
A summary of assets and liabilities, including savings, investments, and lines of credit.
Confirmation of where the down payment is coming from.

RBC guide · current to June 2026 ↗

Debt-service and credit

TD’s public affordability target is GDS at or under 35% and TDS at or under 42% of pre-tax household income.
For an insured loan, CMHC publishes maximums of 39% GDS and 44% TDS.
At least one borrower or guarantor must have a minimum credit score of 600 for a CMHC-insured homeowner loan. RBC and TD do not publish a minimum score for their broader mortgage programs.
The insured qualifying rate is the greater of the contract rate + 2% or 5.25%.

Down payment and insurance

Up to $500,000: minimum 5% down.
$500,000 to $1,499,999: 5% of the first $500,000, plus 10% of the amount above $500,000.
$1.5 million or more: minimum 20% down; mortgage loan insurance is not available at or above $1.5 million.
Below 20% down is a high-ratio mortgage and requires default insurance; 20% or more is conventional.
Budget an additional 2–5% of the purchase price for closing costs, per RBC’s public guide.

CMHC insurance explainer ↗RBC buyer guide ↗

Property and borrower basics for insured financing

The home must be in Canada and suitable and available for full-time, year-round occupancy with year-round access.
Homeowner financing is for owner occupancy, with insured financing available for one property per borrower or co-borrower at a time.
Eligible borrowers include Canadian citizens, permanent residents, and non-permanent residents legally authorized to work in Canada.
Traditional down payments may come from savings, sale of a property, or a non-repayable gift from a relative. Certain arm’s-length borrowed sources may be permitted by CMHC for eligible 1–2-unit homeowner loans at 90.01–95% LTV, subject to restrictions and a different premium. Confirm current insurer and lender acceptance.

CMHC eligibility ↗

Self-employed borrowers

CMHC’s Self-Employed mortgage-insurance program is the published prime framework shown here. Individual lenders may add their own overlays.

Business history

CMHC recommends at least 24 months operating the business or working in the same line of work.
Less than 24 months may still be considered when supported by an established-business acquisition, sufficient cash reserves, predictable earnings, prior training or education, and a demonstrated history of managing credit.

CMHC Self-Employed program ↗

Income and business documents

Notice of Assessment accompanied by the T1 General, proof of income, and Statement of Business Activities (T2125).
Supporting evidence can include tax returns with NOAs, business credit reports, GST returns, active business-account statements, business licences or articles of incorporation.
Financial statements may be audited or supported by a Review Engagement Report signed by a practicing accountant.
For a recently self-employed borrower, previous employment documents, recent account statements, business records, and signed contracts may support the application.
CMHC’s public material does not specify how many years of NOAs, T1s, or T2125s are required; the lender must confirm the file-specific period.

CMHC Self-Employed fact sheet ↗

Income calculation

Sole-proprietor or partnership income may be grossed up by 15%, or calculated using an add-back approach.
Published acceptable add-backs are limited to business-use-of-home expenses, motor-vehicle expenses, and capital cost allowance (CCA).
Add-backs must be supported by audited statements, a Review Engagement Report, or the T2125 accompanied by the NOA.

CMHC income treatment ↗

Ratios, credit, down payment, and insurance

The same insured maximums apply: 39% GDS, 44% TDS, and qualification at the greater of contract rate + 2% or 5.25%.
At least one borrower or guarantor must meet CMHC’s published 600 minimum credit score.
For 1–2 owner-occupied units, the standard insured down-payment tiers above apply. CMHC requires at least 10% equity for 3–4 owner-occupied units; lender requirements may be stricter.
For owner-occupied 1–4 unit properties, published base premiums range from 0.60% at up to 65% LTV to 4.00% at 90.01–95% LTV; 90.01–95% with a non-traditional down payment is 4.50%.

CMHC premium schedule ↗CMHC insured limits ↗

Alternate lender section

More flexibility, with different costs and proof.

Alternate programs can consider credit events, higher debt-service ratios, bank-statement income, or substantial assets. The trade-off can include lender fees, rate premiums, lower maximum loan-to-value, or narrower property and market rules.

Detailed example

Equitable Bank BFS

Business-for-self / stated-income qualification, from Equitable’s live product page and April 2026 broker specification.

Equitable BFS ↗April 2026 spec sheet ↗

Maximum LTV80%

Ratios50% / 50%

Published FICO500+

The Extended Ratio Product permits up to 60% GDS / 60% TDS in select markets; standard alternative ratios are 50% / 50%.
Qualify at the higher of contract rate + 2% or the benchmark; maximum amortization is 30 years.
Less than two years self-employed can be accepted. Income proof is 12 months of business bank statements or business financials, plus a signed Declaration of Income; net income is used to qualify.
Gifted down payment is accepted. Previous bankruptcy, consumer proposal, and limited credit may be considered; scores below the published 500+ benchmark are case-by-case.
Standard alternative deals carry a 1% commitment fee, although no-fee options are published. Pricing is beacon-score driven rather than a single flat rate premium.
No maximum loan amount is published; rentals, secondary homes, and investment properties may be eligible, and a 90-day rate hold is available.

Home Trust Classic

Product guide says updated February 26, 2024.

No minimum FICO published; prior bankruptcy can be considered.
Up to 80% LTV, 30-year amortization, and flexible GDS / TDS.
Qualify at the greater of contract rate + 2% or the minimum qualifying rate.
Lender fees start at 1% for closed mortgages and 2% for open mortgages; a rate premium may apply.
Purchase or refinance; owner-occupied and rental properties. Rate hold: 90 days purchase, 60 days refinance.

Home Trust Classic guide ↗

Home Trust Accelerator

Stated-income program. The undated public package appears to predate the December 2024 insured-limit changes.

Minimum two years in business, confirmed by licence, articles, or GST/HST registration.
650 FICO insured or 680 insurable for each applicant; maximum 39% GDS / 44% TDS.
Maximum 90% LTV and 25-year amortization; minimum 10% down, with 5% from the borrower and the rest permitted as an immediate-family gift. Borrowed down payment is not allowed.
Requires two years of T1 Generals and arm’s-length/CA-prepared business statements, or audited corporate financials, plus the latest NOA showing line 150 and no tax arrears.
Commission income is ineligible; no prior bankruptcy. Published loan limits are $750,000 in metro Toronto, Vancouver, and Calgary, or $600,000 elsewhere, with a $150,000 minimum.

Home Trust Accelerator package ↗

ICICI Bank Canada Net Worth

Broker sell sheet updated May 25, 2026.

Maximum 55% LTV, 650 minimum beacon score, and a 25-basis-point rate premium.
Requires at least $150,000 in liquid assets, an NOA confirming no taxes owing, and a full appraisal.
Purchase or refinance, first mortgage only; maximum $800,000 loan.
15- to 30-year amortization, 1- to 3-year closed terms, and a 90-day purchase rate hold.

ICICI Net Worth sell sheet ↗

Qualification requirements vary by lender and are subject to change — please confirm the current criteria with your mortgage agent before relying on them. Sources were reviewed October 10, 2026; older or undated product sheets are identified above.

View all qualification sources

RBC Royal Bank — First-Time Home Buyer Complete Guide · current to June 2026.
TD Canada Trust — Mortgage Affordability Calculator · no date shown.
CMHC — Purchase product fact sheets · ©2021; subject to change.
CMHC — Self-Employed program · no date shown.
CMHC — Self-Employed fact sheet · no date shown.
CMHC — Mortgage Loan Insurance Explained · current insured cap and down-payment tiers.
Equitable Bank — BFS product specs · verified live October 10, 2026.
Equitable Bank — Alternate Residential spec sheet · April 2026.
Home Trust — Classic product guide · says updated February 26, 2024.
Home Trust — Accelerator package · no visible update date; appears to predate December 2024.
ICICI Bank Canada — Net Worth Mortgage sell sheet · updated May 25, 2026.

Focused advice

More options than a single branch.

Your income, down payment, credit, timeline, and property all shape the right route. I help you understand which file story a lender needs to see.

01

Buying your first home

Minimum down payment, insured-mortgage options, FHSA and RRSP planning, closing costs, and a clear pre-approval range.

02

Self-employed income

NOA review, business-for-self programs, income documentation, add-backs, and alternative options when the standard box does not fit.

03

Renewal or refinance

Compare your lender’s offer, weigh penalties and break-even, consolidate debt thoughtfully, or restructure for the next stage.

The process

A mortgage plan you can follow.

Start with the numbers you already know. I’ll help turn them into a document plan, lender strategy, and next decision.

Nandan Patel Mortgage Agent Level 1 · FSRA #M23007108 DLC Affinity Mortgage Solutions - 13093

Call Nandan Email directly

01

15-minute discovery call

We discuss your goal, timing, income, down payment, current debts, and any concerns before paperwork begins.

02

Numbers and document plan

You receive a practical range and a clear checklist built around your situation—not a generic pile of documents.

03

Lender match and submission

I compare suitable options and explain payment, restrictions, prepayment privileges, and costs before you choose.

04

Approval through closing

I coordinate outstanding conditions and stay available through lawyer instructions, funding, and your first payment.

Common questions

Useful context before you apply.

Does using a mortgage agent cost the borrower?

For many prime residential mortgages, the lender pays the broker fee. Alternative, private, or complex financing may involve a borrower-paid fee; any fee should be disclosed before you proceed.

Is the lowest rate always the best mortgage?

Not always. Penalty calculation, portability, prepayment options, restrictions, and qualification can matter more than a small rate difference—especially if your plans may change.

Can I qualify if I am self-employed?

Often, yes. The route depends on your business history, tax returns, credit, down payment, and whether your reported income supports the loan. A document review usually reveals the best next step.

How reliable are the calculators?

They are useful planning tools, not commitments. Real approvals depend on lender and insurer rules, income verification, credit, debts, property details, and the interest rate available when you apply.

Contact

Let’s talk through your mortgage plan.

Nandan Patel · Mortgage Agent Level 1 · FSRA #M23007108
DLC Affinity Mortgage Solutions - 13093 · Independently Owned and Operated
Head Office: 300-140 Allstate Parkway, Markham, ON L3R 5Y8 · Serving clients across Ontario.

519-546-6669 info@nandanpatel.ca

Request a mortgage review

Share a few details and Nandan will follow up directly.

Name

Email

Phone number

10-digit Canadian or U.S. number. A leading +1 is accepted.

How can I help?

Preferred callback time (optional, Eastern Time)

Message (optional)

Email me a copy of my inquiry and calculator summary.

Optional. Sent to the email address above. This does not subscribe you to marketing.

Security check will load when you open this form.

By submitting, you ask Nandan to respond to your mortgage inquiry. Your contact details, message and any calculator summary you select are processed through Cloudflare and Resend to deliver your inquiry. Security checks also process technical information. This does not sign you up for marketing emails.

Please do not include sensitive documents. Do not send your SIN, banking details, tax returns or identification through this form.

Read the privacy notice. You can return to this form without losing the details you entered.

Website information

Privacy notice

Last updated: October 24, 2026

This notice explains how information is handled when you use nandanpatel.ca, contact Nandan Patel, or share a calculator scenario. It covers this website’s inquiry features, not the separate documents and consents that may be needed for a formal mortgage application.

The short version

Use the inquiry form to request a response about your mortgage question.
If you select “Discuss with Nandan,” your selected calculator inputs and results can be included in the inquiry and its PDF attachment.
Cloudflare provides hosting and security; Resend and email providers deliver the messages.
An inquiry or an optional email copy is not consent to unrelated marketing.

1. Who to contact

For questions about information submitted through this website, contact Nandan Patel at info@nandanpatel.ca or 519-546-6669. Nandan Patel is a Mortgage Agent Level 1, FSRA #M23007108, with DLC Affinity Mortgage Solutions - 13093, Independently Owned and Operated. Head Office: 300-140 Allstate Parkway, Markham, ON L3R 5Y8.

2. Information you choose to submit

The inquiry form asks for your name, email address, phone number and mortgage goal. You may also provide a preferred callback time and a message. A selected calculator summary can contain the figures and choices you entered, such as purchase price, down payment, interest rate, income, expenses or debts, together with displayed results and assumptions. Only the scenario you choose to include is attached to that inquiry.

Calculator calculations run in your browser. Using a calculator alone does not send a mortgage inquiry. Selecting “Discuss with Nandan” prepares a snapshot for review; submitting the form sends it. You can remove the calculator summary before submitting.

3. Why the information is used

Your submission is used to deliver and respond to your inquiry, understand the scenario you chose to share, arrange requested follow-up, and maintain records relating to that communication. A reference identifies the inquiry. Technical information is also used to operate the website, prevent spam and investigate delivery or security problems.

Submitting this form does not itself authorize a credit check, create a mortgage application or approval, or authorize unrelated marketing. Further mortgage services may require separate disclosures, information and consent.

4. Website, security and email services

Cloudflare: hosts and protects the website and processes form requests through its infrastructure. Technical records may include an IP address, browser information, request details and security events.
Cloudflare Turnstile: helps distinguish people from automated traffic. It processes technical security signals and a verification token. Cloudflare states that Turnstile does not access or transmit the contents of inquiry fields as part of the challenge. This is separate from Cloudflare’s hosting and request-processing role. See the Turnstile Privacy Addendum.
Resend and email providers: process the contact details, message and any selected calculator PDF to send, receive and store inquiry emails and any requested visitor copy. See Resend’s privacy policy.
Google Fonts: supplies fonts used by this website. Font requests can transmit an IP address and technical browser/request information to Google. See the Google Fonts Privacy FAQ.

Security services may use cookies or similar browser technologies to support their functions. Blocking required security scripts can prevent the inquiry form from working. Third-party websites linked from this site have their own information-handling practices.

5. Optional email copy

If you select “Email me a copy,” a separate copy of your submitted inquiry and any selected calculator PDF is sent to the email address you entered. Check that address carefully before submitting. Leaving the option unchecked does not request a visitor copy. Neither choice signs you up for marketing emails.

Email is not a secure document-upload channel. Copies may remain in your mailbox, the receiving mailbox and service-provider records.

6. Processing locations

Hosting, security and email services may process or store information in Canada or other countries, including the United States, depending on their infrastructure and account settings. Information processed outside Canada may be subject to the laws and lawful access requirements of those jurisdictions. This website does not promise Canada-only storage.

7. Retention and safeguards

Inquiries, attachments and operational records may remain in email systems and service-provider records. There is no automatic deletion period promised by this website. Retention depends on the purpose of the inquiry, follow-up and applicable professional, legal or recordkeeping requirements. Contact Nandan if you need information about records held or wish to request deletion; some records may need to be retained.

The site uses HTTPS, server-side email processing and security verification. These controls reduce risk but cannot guarantee that every transmission, mailbox or system will remain secure.

8. Your choices and requests

You can contact Nandan to ask about your information, request access or correction, discuss withdrawal of consent for future uses, or request deletion where available. Identity may need to be verified, and legal exceptions or recordkeeping requirements can limit what can be disclosed or deleted. Ask how to provide any necessary verification securely; do not send identification through the inquiry form. If you remain concerned, information about privacy rights and complaints is available from the Office of the Privacy Commissioner of Canada.

9. Do not submit sensitive documents

Do not enter or attach a Social Insurance Number, account credentials, banking records, tax returns, identification or other sensitive documents through this form. Use only the information needed to explain your inquiry. Ask Nandan for an appropriate secure process if documents are required later.

10. Changes to this notice

This notice may be updated when the website’s features, service providers or information-handling practices change. The date above identifies the current version.

Return to the inquiry form