RateGuard Pro - Broker Portal

Purchase Budget

Mortgage qualification, closing costs, and comparison

Budget Summary

Monthly Payment

$3,468

5yr Fixed

GDS / TDS

32.3% / 36.3%

Qualifies

Cash to Close

$180,175

Down $160,000 + Closing $20,175

Mortgage

$640,000

20.0% down, 80.0% LTV

Client & Inputs

▾

Client

...

Purchase Price

Down Payment

20.0% down

Gross Income

$/yr

Property Tax

$/yr

Heat

$/mo

Condo Fees

$/mo

Other Debts

$/mo

Amortization

Province

City

First-Time Buyer?

Mortgage Comparison

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Rate Type
Rate	%	%	%
Term
Monthly Payment	$3,468	$3,539	$3,668
Bi-Weekly Payment	$1,601	$1,633	$1,693
Balance at Term End	$559,926	$595,179	$565,104
Interest Over Term	$127,999	$82,571	$145,172
Principal Paid	$80,074	$44,821	$74,896

Closing Costs

▾

Click any amount to edit

Land Transfer Tax

$0 - $55,000 x 0.5%$275

$55,000 - $250,000 x 1.0%$1,950

$250,000 - $400,000 x 1.5%$2,250

$400,000 - $2,000,000 x 2.0%$8,000

Provincial LTT (Ontario)$12,475

Municipal LTT (Toronto)$12,475

FTHB Rebate-$8,475

Legal Fees

Varies by provider

Title Insurance

One-time, required

Appraisal Fee

May be covered by lender

Home Inspection

Recommended but optional

Property Tax Adjustment

Prorated at closing

Home Insurance (1st mo)

Due at closing

Total Closing Costs$20,175

Cash Needed at Closing

Down payment $160,000 + Closing $20,175

$180,175

Down Payment Efficiency

▾

Should extra cash go toward a bigger down payment or into investments?

Extra Amount

Investment Return

Invest the $10,000

$13,382

after 5 years

Use as Down Payment

$13,251

saves $54/mo

Investing the extra cash wins here

Lender Feature Comparison

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Feature	TD	Scotia	BMO	First National	MCAP	Manulife
Collateral Charge	Yes	Yes	Optional	No	No	Yes
Penalty Type	Discounted IRD	Discounted IRD	Posted IRD	Standard IRD	Standard IRD	Standard IRD
Portability	Yes	Yes	Yes	Yes	Yes	Yes
Prepayment	20% + 20%	20% + 20%	20% + 20%	20% + 20%	20% + 20%	20% + 20%
HELOC	Yes (FlexLine)	Yes (STEP)	Yes	No	No	Yes (One)
Blend & Extend	Yes	Yes	Yes	No	No	No
Cashback	Up to $3,000	Varies	Yes	Yes	Yes	No
Bonafide Sales	No	No	No	No	No	No

Qualification Ratios

▾

32.3%

GDS / 39%

36.3%

TDS / 44%

After-Tax Income (Ontario)

Gross: $150,000/yr

Federal Tax-$28,759Provincial Tax-$12,563CPP-$4,467EI-$1,071

Net Income$103,141/yr

$8,595/month

Monthly Budget

Housing

$4,035

Other Debts

$500

Remaining

$4,061

Calculations are estimates for planning purposes only. Actual rates, payments, and costs may vary based on lender policies, credit qualification, and market conditions. CMHC premiums, land transfer tax, and tax calculations are based on publicly available 2026 schedules. Consult your mortgage broker for personalized advice.