Mortgage Tools

Run the Numbers.
Know Your Options.

These calculators give you real estimates in seconds — no sign-up, no pressure. Use them as a starting point, then let's talk about making it happen.

Talk to Lucas
Calculator 1

Mortgage Payment Estimator

Enter your home price, down payment, and rate to see your estimated monthly payment broken down clearly.

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20%
5.0%

Your Estimated Payment

Monthly Payment
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per month
Mortgage Amount —
Total Interest Paid —
Total Cost (principal + interest) —
CMHC Insurance —
⚠ This is an estimate. Your actual rate depends on your credit profile, lender, and mortgage term. Reach out — I'll find you the best one.
Calculator 2

Rent vs. Buy Comparison

Is it cheaper to rent or own over time? This tool factors in equity growth, opportunity cost, and housing costs so you can decide with confidence.

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5.0%
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3.0%
10 yrs

After 10 Years…

Total Spent Renting
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No equity gained
Net Position (Buying)
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Equity built
Estimated Home Value —
Mortgage Remaining —
Total Housing Costs (buying) —
⚠ Excludes transaction costs (land transfer tax, closing costs). Speak with me for a complete picture.
Calculator 3

How Much Can You Borrow?

Based on your income and existing debts, this gives you a rough sense of your maximum purchase price — before you start shopping.

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7.0%
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Your Estimated Capacity

Maximum Purchase Price
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Based on GDS / TDS limits
Max Mortgage (approx.) —
Your GDS Ratio —
Your TDS Ratio —
Monthly Housing Budget —
⚠ Based on a 25-year amortization and standard GDS/TDS thresholds. Lenders may use slightly different criteria. This is an estimate — let me run the real numbers for you.
Calculator 4

GDS & TDS Calculator

What are GDS and TDS?

These two ratios are the primary way Canadian lenders measure whether you can afford a mortgage. Think of them as the "how stretched are you?" test.

GDS (Gross Debt Service Ratio) measures what percentage of your gross monthly income goes toward your housing costs — mortgage payment, property taxes, heating, and 50% of condo fees. Most lenders want this below 39%.

TDS (Total Debt Service Ratio) adds all your other debts (car loans, student loans, credit card minimums) on top. Lenders generally want this below 44%. If yours is higher, it doesn't mean automatic rejection — it means we get creative with the lender mix.

39%
GDS Limit
44%
TDS Limit
+2%
Stress Test Buffer
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Your Debt Service Ratios

GDS Ratio —
0%Limit: 39%60%+
TDS Ratio —
0%Limit: 44%60%+
Total Housing Costs —
Total Debt Load —
Enter your numbers above and click "Check My Ratios" to see where you stand.
Common Questions

Frequently Asked Questions

Straight answers to the questions I hear most often.

These tools are estimates based on standard Canadian mortgage formulas. They're great for understanding your range and comparing scenarios, but your actual mortgage offer will depend on your credit score, employment history, the specific lender, and current rate conditions. Always treat these as a starting point.
The Canadian mortgage stress test requires lenders to qualify you at whichever is higher: your contract rate + 2%, or 5.25%. This ensures you can still afford your mortgage if rates rise. All federally regulated lenders must apply it — but some alternative lenders don't, which is one reason a broker can open more doors than your bank.
CMHC (Canada Mortgage and Housing Corporation) insurance is required when your down payment is less than 20% of the purchase price. It protects the lender — not you — against default. The premium ranges from 2.80% to 4.00% of your mortgage amount, and is typically added to your mortgage balance. On the bright side, insured mortgages often qualify for lower interest rates.
For homes under $500,000: minimum 5%. For homes between $500,000–$999,999: 5% on the first $500K, and 10% on the portion above that. For homes $1 million and over: minimum 20% (no CMHC insurance available). First-time buyers may also qualify for the First Home Savings Account (FHSA) and Home Buyers' Plan (HBP) to boost their down payment.
Neither is universally "better" — it depends on your risk tolerance, budget flexibility, and where rates are headed. Fixed rates offer certainty; your payment never changes. Variable rates typically start lower but fluctuate with the Bank of Canada's prime rate. Historically, variable rates have cost less over time — but "historically" doesn't guarantee the future. This is exactly the kind of conversation worth having together.
In most cases, no — my service is completely free to you. Lenders pay brokers a finder's fee when a mortgage closes. This doesn't affect your rate; in fact, because brokers bring volume to lenders, they often access rates that are better than what you'd find walking into a branch. There are rare situations (certain private or alternative lenders) where a fee may apply — I'll always be upfront about that before you commit to anything.
Typically: 2 years of T4s or NOAs (Notice of Assessment), recent pay stubs, 3 months of bank statements showing your down payment, a government-issued ID, and your most recent mortgage/rental statement. Self-employed borrowers may need 2 years of financials. Don't stress about gathering everything perfectly — I'll tell you exactly what's needed once we talk.
Mortgage Glossary

Terms Worth Knowing

Plain-English definitions for the words that show up in every mortgage conversation.

Basics
Amortization
The total length of time to pay off your mortgage in full — typically 25 years in Canada. Longer amortization = lower monthly payments, but more total interest paid.
Basics
Mortgage Term
The length of your current mortgage agreement — usually 1 to 5 years. At the end of each term, you renew, renegotiate, or pay off the remaining balance.
Qualification
Pre-Approval
A conditional commitment from a lender stating the maximum amount they'll lend you. Rate is held (usually 90–120 days) while you shop. Not a guarantee — full approval happens after an accepted offer.
Rate Types
Fixed Rate
Your interest rate is locked in for the entire term. Payment stays constant — good for budgeting, typically slightly higher than variable at the start.
Rate Types
Variable Rate
Your rate moves with the Bank of Canada's prime rate. Payments may be fixed or fluctuate. Historically lower over time, but carries more uncertainty.
Insurance
CMHC Insurance
Mortgage default insurance required when your down payment is under 20%. Premium is 2.80–4.00% of your mortgage, added to your balance. Allows access to better rates.
Costs
Closing Costs
One-time costs at completion: land transfer tax, legal fees, title insurance, home inspection, adjustments. Budget ~1.5–4% of purchase price beyond your down payment.
Ratios
GDS Ratio
Gross Debt Service ratio. Your monthly housing costs (mortgage + tax + heat + 50% condo fees) divided by gross monthly income. Max 39% for most lenders.
Ratios
TDS Ratio
Total Debt Service ratio. GDS + all your other monthly debt obligations. Max 44% for most lenders. Lenders use both GDS and TDS to assess affordability.
Process
Stress Test
Federal rule requiring lenders to qualify you at your contract rate + 2%, or 5.25%, whichever is higher. Ensures you could handle a rate increase.
Flexibility
Prepayment Privilege
The ability to pay down your mortgage faster without penalty. Most lenders allow 15–20% lump sum annually plus increased payment options. Saves significant interest over time.
Refinancing
Refinance
Breaking your current mortgage to get a new one — to access equity, lower your rate, or consolidate debt. May involve a prepayment penalty, which I'll help you calculate before deciding.