Canadian mortgage math uses semi-annual compounding as required by the Interest Act. Accelerated payments are half the monthly payment made every two weeks — equivalent to making one extra monthly payment per year, shaving years off your amortization.
Property & financing
Minimum required down payment:
5.50%
25 years
CMHC mortgage default insurance
Down payment
Coverage
Premium rate
Premium amount
Annual income
Monthly debt obligations
Down payment & mortgage details
5.50%
25 years
Your maximum mortgage
GDS (Gross Debt Service) includes your mortgage payment, property tax, and heat — must not exceed 39% of gross income. TDS (Total Debt Service) adds all other debt payments — must not exceed 44%. These are the lender qualification ratios used across Canada. Results are estimates; actual approval depends on credit score, employment history, and lender guidelines. Contact Patrick Sawler for a full pre-qualification.
Property details
Estimated closing costs
Estimates based on Nova Scotia. Legal fees vary by lawyer and transaction complexity. Home inspection is strongly recommended. HST applies to new construction — ask your builder about the new housing HST rebate.
