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Three steps — start by telling us what’s going on

  1. 1

    Call or message us

    No paperwork needed first. Just tell us about the home, the debts and your income today.

  2. 2

    We find the right lender

    Banks, B lenders and private lenders compared — who will do it, and on what terms.

  3. 3

    Plan and costs in writing — you decide

    Rate, fees, term and the path back to a bank, all laid out before you choose.

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Susan Team

Susan Wang · CEO, Monest Financial Group

Residential · hard cases · English & Chinese (to be confirmed)

Mary Team

Mary · Team lead

Commercial / private · urgent funding (to be confirmed)

Rates and tools

Mortgage calculators and today's rates

Mortgage paymentYour monthly paymentHow much can I affordBased on incomeClosing costsTransfer tax, legalBig 5 bank ratesBig 5 rates todayRenewalPayment after renewalCan I get a loan?Options if declinedSale proceedsWhat you keepAll tools23 calculators

Monest vs Big 5 rates today

Each bank →
Bank1-year fixed3-year fixed5-year fixedVariable
Monest4.49%3.99%3.89%3.95%
RBC5.74%P5.09%5.14%4.40%
TD5.69%P5.24%5.39%4.54%
BMO5.49%P4.94%5.14%4.35%
Scotia5.49%P6.05%P5.15%4.70%P
CIBC5.14%P5.09%5.34%4.30%

Every 0.10% difference ≈ $29/month on a $500,000 mortgage (25-yr amortization). My payment →

Big 5 figures come from each bank's website (bold = special; grey with P = posted, no special offered). Monest rates are samples, subject to approval. RBC, TD, Scotia are read automatically from their websites every day (2026-11-05); BMO, CIBC block automated reading and are checked by hand (2026-11-04).

Next Bank of Canada decision 12/09 (in 28 days) · Prime 4.70% · each 0.25% cut ≈ $70/mo less on $500k variable→

Toolbox

Everyday calculators for mortgages, renewals, switching and second mortgages.

I want to buy (7)
Mortgage paymentPrice, down payment, rate → monthly paymentRent or buyBreak-even yearDown payment timelineWhen can I afford to buyYour rate tierMore down, higher rate?Document checklistTailored to youNewcomer checkCan I buy, proving fundsParents helping kidsUse home equity to gift
Renew / switch (6)
Renewal payment shockHow much more at renewalFixed or variableBreak-even rate riseSwitch savingsNet savings from switching lendersPrepayment penaltyCost to break nowMy home equityBalance, principal paid, cash availableReverse mortgage55+, cash with no payments
Selling / moving (4)
Sale proceedsWhat's left after commission and penalty?Port or breakKeep your low rate?Bridge loanBuying before sellingPrepayment penaltyCost to break now
Investment / commercial (2)
Rental cash flowMaking or losing moneyCommercial loanStore / warehouse financing
Retirement / home equity (2)
Reverse mortgage55+, cash with no paymentsSale proceedsWhat's left after commission and penalty?
Area data (1)
Prices & tax by areaPick a city; other tools use it
Declined / need cash fast (5)
Can I get a loan?Declined, low credit, self-employed, newcomerCredit score boostGap and first stepsSelf-employed incomeLow taxable incomePrivate / 2nd mortgage costTrue cost with all feesPower of sale countdownDays left after a notice

Mortgage calculator

Payment Plan

Optional. Fill in the purchase price and down payment and the mortgage amount is worked out for you.

Down payment under 20%: mortgage loan insurance is required, and the premium is usually added to the mortgage amount.

Amortization Period:

Monthly (12x per year)

$3,624.76

Interest over the 5-year term$144,114.23

Interest over full amortization$457,428.32

Principal 58%Interest 42% · total $1,087,428

Compare amortizations and rates

Compare amortization (tap to switch):

If the rate changes, each payment changes by:

-1%−$348
-0.5%−$176
+0.5%+$180
+1%+$365
Work backwards from the payment I can afford

At this rate and amortization (Monthly (12x per year)), you could borrow about $521,413

How much cash will you need at closing? →
Prepayment Plan (optional)

Mortgage Amount is the purchase price minus the down payment, plus any mortgage loan insurance premium. The amortization period is not the same as the term. All calculations are examples only and do not replace professional advice.

See summary, chart and yearly schedule

Your Data

Your Data
Mortgage Amount$630,000.00
Interest Rate4.89%
Amortization Period25 Years
Payment FrequencyMonthly (12x per year)
Term5 Years

Calculation Summary

CategoryTermAmortization Period
Number of Payments60300
Mortgage Payment$3,624.76$3,624.76
Prepayment$0.00$0.00
Principal Payments$73,371.43$630,000.00
Interest Payments$144,114.23$457,428.32
Total Cost$217,485.66$1,087,428.32

Mortgage Summary

  • Over the amortization period: 300 payments of $3,624.76, total principal $630,000.00, interest $457,428.32, total cost $1,087,428.32.
  • Over the term: 60 payments of $3,624.76, total principal $73,371.43, interest $144,114.23, total cost $217,485.66.
  • At the end of the term, the remaining balance is $556,628.57.

Payment Diagram

PrincipalInterestPer year
Remaining balance over time

Payment Schedule

PeriodPrincipal PaymentInterest PaymentTotal PaymentEnding Balance
Term
$13,291.71$30,205.43$43,497.13$616,708.29
$13,949.62$29,547.52$43,497.13$602,758.67
$14,640.09$28,857.04$43,497.13$588,118.58
$15,364.75$28,132.39$43,497.13$572,753.84
$16,125.27$27,371.87$43,497.13$556,628.57
Term Totals$73,371.43$144,114.23$217,485.66$556,628.57
After Term
$16,923.43$26,573.70$43,497.13$539,705.14
$17,761.10$25,736.03$43,497.13$521,944.03
$18,640.24$24,856.89$43,497.13$503,303.79
$19,562.89$23,934.24$43,497.13$483,740.90
$20,531.21$22,965.92$43,497.13$463,209.69
$21,547.46$21,949.67$43,497.13$441,662.23
$22,614.01$20,883.12$43,497.13$419,048.22
$23,733.36$19,763.78$43,497.13$395,314.86
$24,908.11$18,589.03$43,497.13$370,406.75
$26,141.00$17,356.13$43,497.13$344,265.75
$27,434.92$16,062.21$43,497.13$316,830.83
$28,792.89$14,704.24$43,497.13$288,037.93
$30,218.08$13,279.05$43,497.13$257,819.85
$31,713.81$11,783.33$43,497.13$226,106.05
$33,283.57$10,213.56$43,497.13$192,822.48
$34,931.03$8,566.10$43,497.13$157,891.44
$36,660.04$6,837.09$43,497.13$121,231.40
$38,474.64$5,022.50$43,497.13$82,756.76
$40,379.04$3,118.09$43,497.13$42,377.72
$42,377.72$1,119.41$43,497.13$0.00
After Term Totals$556,628.57$313,314.09$869,942.66$0.00
Mortgage Totals$630,000.00$457,428.32$1,087,428.32$0.00

Click + to see each payment. Prepayments are assumed to arrive in time for the next interest calculation.

Common questions, quick answers

What's the minimum down payment?

5% up to $500K, 10% on the portion from $500K to $1.5M, and 20% from $1.5M. Under 20% needs mortgage insurance, added to the loan.

Run the numbers →
What credit score do I need?

Usually 600 minimum for insured mortgages; 680+ typically gets the best rates. Lower scores can still work with B lenders or private loans.

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How much can I borrow?

Housing costs usually stay under 39% of gross monthly income, and all debts under 44%, tested at the higher of your rate + 2% or 5.25%.

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What's the stress test?

Lenders check you could still pay at a higher qualifying rate (the greater of your rate + 2% or 5.25%), in case rates rise.

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Fixed or variable?

Variable follows the Bank of Canada (prime) and can change; fixed stays the same for the term. The key is how much variable would have to rise before fixed wins — the tool calculates the break-even.

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What's a reverse mortgage?

Homeowners 55+ borrow against their home with no monthly payments, repaid when they sell or move; interest compounds, up to about 55% of value.

Run the numbers →
Declined by the bank—now what?

Ask exactly why. B lenders accept scores from about 550, self-employed and non-traditional income; with home equity, a private loan can bridge.

Run the numbers →
What do I need for pre-approval?

ID, an employment letter (within 30-60 days), recent pay stubs, two years of T4s and NOAs, and 90 days of down payment statements; more if self-employed or gifted.

Run the numbers →

Featured programs

Residential, commercial and private financing, with access to more than 60 lenders.

Residential

Purchase, refinance and renewal for homeowners and first-time buyers.

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Commercial

Financing for commercial purchase and refinance.

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Private mortgage

Flexible private and second-mortgage solutions.

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Case study

Sample content. Replace with real client cases.

  1. First-time buyer, 10% down

    Situation: Sample situation text goes here.

    Result: Sample result text goes here.

  2. Renewal with a rate drop

    Situation: Sample situation text goes here.

    Result: Sample result text goes here.

  3. Self-employed borrower

    Situation: Sample situation text goes here.

    Result: Sample result text goes here.

More cases: declined, bad credit, self-employed and more →
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