Your plans
Think about your ideal timing, the type of property and what you want your mortgage to help you do.
MORTGAGE RESOURCES
A little clarity.
A better next step.
You don’t need to know every mortgage term before we talk. Start with a few helpful questions, and we’ll take it from there.
Ask Vijay a question
RESOURCES / MORTGAGE TOOLS
Explore your numbers.
Plan your next move.
Plan your mortgage, debt ratios and land transfer tax.
Estimates stay in your browser unless you request an emailed copy.
Estimated payment—
Down payment—
Mortgage before insurance—
CMHC premium added—
Total mortgage loan—
THE LONGER VIEW
Your path to repayment
Total interest—Total paid—
Year-by-year amortization
| Year | Principal | Interest | Extra payments* | Balance |
|---|
*Extra payments are already included in principal. The final payment may be smaller. Figures are rounded for display.
Calculation assumptions & sources
Fixed-rate estimates use a nominal annual rate compounded twice a year; the variable illustration uses monthly compounding. The entered rate is held constant for the entire projection, including after renewal. Variable-rate contracts and lender calculations may differ.
Regular frequencies use an equivalent periodic rate and payment. Accelerated biweekly is half the monthly payment; accelerated weekly is one quarter. Lump sums are applied after the regular payment at the end of the selected year. Payment dates, fees, taxes and insurance costs paid separately are excluded. The loan includes the estimated CMHC premium. Ontario’s 8% sales tax on the premium is payable separately and is not financed. Estimates assume an owner-occupied home with one or two units and a traditional down payment. Other products, rental properties and borrowed down payments require a separate review.
Reference: RBC mortgage payment calculator ↗. This is Vijay Sharma’s independent estimate tool.
Insurance sources: CMHC premiums · Minimum down payments · Extended-amortization surcharge. With 20% or more down, this tool assumes no borrower-paid default-insurance premium. Prices of $1.5 million or more require at least 20% down.
Estimated GDS / TDS—
Down payment—
Mortgage before insurance—
CMHC premium added—
Total mortgage loan—
What goes into GDS & TDS?
Ratios annualize your selected payment frequency and divide by 12. Accelerated payments therefore increase the monthly obligation used here. Optional extra payments are excluded. The mortgage amount includes estimated CMHC insurance. All income and expenses are converted to monthly amounts. Changing a period converts the entered amount to preserve its annual value. GDS = monthly mortgage payment, property taxes, heat, 50% of condo fees and 100% of site/ground rent, divided by gross monthly household income. TDS adds other monthly debt obligations to those housing costs.
The 39% GDS and 44% TDS references are CMHC guidelines, not universal approval limits. Credit history, verified income, down payment, property, lender and insurer policies also matter. Stress-test requirements and exceptions vary. This tool estimates ratios; it does not approve or pre-approve a mortgage.
Unsecured credit uses at least 3% of the outstanding balance. For secured lines of credit, ask your lender for the payment to include under other debts; treatment may use a 25-year amortization. Rental income and complex borrowing situations need an individual review.
Sources checked September 18, 2026: FCAC Mortgage Qualifier Tool ↗ · CMHC GDS / TDS guidance ↗.
How the tax is calculated
Each rate applies only to the portion of the price within that band, not to the entire purchase price. Ontario charges 0.5% on the first $55,000, 1% to $250,000, 1.5% to $400,000, 2% to $2 million, and 2.5% above $2 million.
Inside Toronto (including Etobicoke, North York, Scarborough, York and East York), municipal tax is added. The combined tax is twice Ontario’s tax up to $3 million before rebates. Above $3 million, Toronto has higher bands, so simply doubling is incorrect. Mississauga, Brampton and other GTA municipalities are not Toronto.
| Jurisdiction / price band | Rate | Taxable portion | Tax |
|---|
Current rules checked September 18, 2026. Sources: Ontario rates · Toronto rates · Ontario refund eligibility · Toronto rebate eligibility.
ADDRESS & POSTAL CODE LOOKUP
Find the right address.
Choose how to search.
Use Canada Post’s official lookup, or search here without leaving this website. Include the unit number for an apartment or office.
This search connects to Canada Post AddressComplete. Your search text is sent to that service for suggestions; this website does not save it.
New construction: a postal code may not yet be assigned or available. If your exact address is missing, confirm it with Canada Post or your builder; do not use a nearby property’s postal code.
Planning estimates in Canadian dollars, not a financing offer or approval. Results may differ from your lender. Calculation inputs stay in your browser unless you choose “Send me a copy.” That action sends the displayed inputs and results to your email through our hosting server and email provider.
GUIDES / BEFORE OUR FIRST CONVERSATION
Bring your goals.
We’ll talk through the rest.
Your financial picture
Be ready to discuss income, savings, debts and any existing mortgage. We’ll identify the documents needed for your situation.
Your questions
Bring the things you’re unsure about. You should feel comfortable asking for an explanation.
Please don’t send financial documents, identification or banking details through the website enquiry form. We’ll discuss an appropriate secure channel.
What does a mortgage agent help with?
I help you prepare your application, consider suitable options from participating lenders and understand the terms and conditions of an offer. We’ll work through lender requirements together as your application moves forward.
Does a pre-approval guarantee financing?
No. A pre-approval is conditional. Final financing depends on the lender’s review of your application, supporting documents, property and any other conditions. Speak with your mortgage professional before relying on a financing amount or removing a financing condition.
What does it cost to work with you?
The initial consultation is free. Compensation depends on the lender and mortgage arrangement. Lenders may pay a commission; some arrangements involve brokerage, lender or other fees paid by you. Applicable compensation and costs will be explained and disclosed as required.
What is the difference between a term and amortization?
Your term is the period covered by your mortgage contract. Amortization is the projected time to repay the mortgage. A longer amortization generally lowers payments but increases total interest, assuming other factors stay the same.
What should I look at besides the rate?
Consider prepayment privileges, potential penalties, portability, payment options and other conditions. The right comparison looks at how the mortgage fits your plans, not just the advertised rate.
Can you help if I’m self-employed or new to Canada?
Let’s start with your circumstances. Income documents and Canadian credit history requirements vary by lender and product. I can help you understand what documentation may be needed and explore suitable options.
When should I start discussing my renewal?
Give yourself time before the renewal date to review your current offer and other available options. Your goals, finances and plans may have changed since your mortgage began.
Where do you work, and who is your brokerage?
I’m based in Brampton and serve clients across Ontario. I’m Vijay Sharma, Mortgage Agent Level 2, agent licence M14001881, with Mortgage Alliance, brokerage licence 10530. Mortgagebird.ca is my website address, not a separate brokerage.
TRUSTED READING
Explore a little further.
GOVERNMENT OF CANADA
Choosing a mortgage
Understand the features, terms and questions to consider.
Read the guide ↗FSRA ONTARIOOntario mortgage regulation
Learn about the regulator and mortgage brokering in Ontario.
Visit FSRA ↗General information only; not an offer or a commitment to lend. Your circumstances and current lender requirements determine the available options. External resources are maintained by their respective organizations.
MORTGAGE ANSWERS
Real questions.
Clear mortgage guidance.
Income & employment
Can I buy a house while on probation?
How employment probation can affect a Canadian mortgage application, what to prepare and why your lender’s policy matters.
Read the answer Income & employmentCan overtime be used for mortgage qualification?
Understand how overtime may be assessed for a Canadian mortgage, why history matters and how to prepare a clear income picture.
Read the answer Down paymentCan I use gifted money for my down payment?
A practical guide to gifted down payments in Canada: genuine gifts, supporting records, timing and common mistakes.
Read the answerYOUR NEXT CHAPTER