Compare A, B, and Private lenders. Calculate your real closing costs. Run "What If" scenarios. Find out exactly what you can afford — all free, instant, no signup.
✅ A / B / Private Lenders✅ CMHC Auto-Calculation✅ What-If Simulator✅ Real Closing Costs✅ Lender Wizard✅ Email & PDF Export
🏦 Step 1 — Choose Your Lender Type
5.25%
A Lenders include TD, RBC, BMO, Scotiabank, CIBC and major credit unions. Lowest rates but require 680+ credit, verifiable income, and standard debt ratios.
🏘️ Step 2 — Property Type
✅ Standard amortization up to 30 years. CMHC insurance available with as little as 5% down.
📋 Step 3 — Purchase Details
Down payment: 20.0%
✅
No CMHC Insurance Required — Your down payment is 20% or more. Conventional mortgage.
Enter your home price and down payment to see all three lender types compared instantly.
Detail
A Lender ★ Best Rate
B Lender
Private Lender
💡 Which is right for you? Most buyers with good credit qualify for A Lender rates. If you're self-employed, have bruised credit, or need non-standard income verification, a B Lender may be your path — then refinance with an A Lender after 1–2 years. Private lenders are ideal for bridge financing or situations requiring maximum flexibility. Our team can guide you to the right fit, for free.
⚖️ DISCLAIMER
This comparison is for informational purposes only and does not constitute financial or mortgage advice. Interest rates shown are illustrative estimates. Actual rates, terms, and approvals vary by lender and individual financial profile. Consult a licensed mortgage professional before making any financial decisions. Phoenix Home Realty assumes no liability for decisions made based on this tool's output.
🔮 What If Scenario Simulator
See instantly how changes to your rate, down payment, or payment schedule affect your monthly payment and total interest.
📈 What if rates go up or down?
Scenario
Rate
Monthly Payment
Total Interest
vs. Base
💰 What if I change my down payment?
Down Payment
% of Price
CMHC?
Monthly Payment
Total Interest
🗓️ What if I pay more frequently?
Frequency
Payment Amount
Total Paid
Years Saved
Interest Saved
💸 What if I make a lump sum payment?
Enter a one-time extra payment to see how much time and interest you save.
Interest Saved
$42,300
Time Saved
2.3 years
New Payoff Date
2047
Return on Lump Sum
211%
⚖️ DISCLAIMER
All "What If" scenarios are mathematical projections for illustrative purposes only. They do not account for prepayment privileges, penalties, lender policies, or compounding structures. Results are estimates only. Phoenix Home Realty assumes no liability for financial decisions based on these projections.
🧊 The Cold Hard Truth — What Buying REALLY Costs
Most calculators show your mortgage payment. We show you the real cash you need to close — and the true 5-year cost of ownership.
I am a first-time buyer(applies LTT rebates automatically)
💵 Cash Needed to Close
💰 Total Cash Needed to Close$213,000
📅 True 5-Year Cost of Ownership
📊 5-Year True Total Cost$312,000
Estimates based on inputs provided. Maintenance budget uses the industry standard of 1% of home value per year. All figures are approximate.
⚖️ DISCLAIMER
All closing cost and ownership cost estimates are approximations for general planning purposes only. Actual costs vary significantly by municipality, property type, legal fees, lender requirements, and individual circumstances. Land Transfer Tax figures are based on Ontario provincial rates only and do not account for Toronto municipal LTT or special assessments. Always consult a licensed real estate lawyer and financial advisor before completing any real estate transaction. Phoenix Home Realty assumes no responsibility for reliance on these estimates.
✅ How Much Home Can You Afford?
Based on Canadian GDS/TDS guidelines. These are estimates — book a free consult for a precise pre-approval.
Car loans, student loans, credit cards
5.25%
Maximum Home Price
$480,000
based on your income and debts
Max Monthly Payment
$2,175/mo
GDS Ratio
28%
TDS Ratio
34%
Conservative Recommendation
$420,000
GDS Ratio (target: under 39%)
0%39% limit100%
✅ You appear to qualify under standard GDS/TDS guidelines.
🚀 Ontario Programs That Boost Your Buying Power
FHSA: Contribute up to $8,000/year tax-free (lifetime max $40,000) toward your first home down payment.
RRSP Home Buyers' Plan: Withdraw up to $35,000 tax-free. Repay over 15 years.
Ontario Land Transfer Tax Rebate: Up to $4,000 back for first-time buyers at closing.
First-Time Buyer Tax Credit: Up to $1,500 on your federal tax return in the year of purchase.
Shared Equity Mortgage: Government contributes 5–10% of your home price, reducing your monthly payment.
⚖️ DISCLAIMER
Affordability estimates are based on simplified GDS/TDS ratio calculations and do not represent a formal mortgage pre-approval. Actual qualifying amounts depend on credit score, employment history, lender policies, and stress test requirements. Phoenix Home Realty assumes no liability for reliance on these estimates.
🧙 Which Lender Type Is Right for You?
Answer 5 quick questions and we'll recommend the best lender type for your situation.
Question 1 of 5
What best describes your employment situation?
Be honest — lenders verify everything.
🏦 In-House Mortgage Team
Our specialists compare A, B, and private lenders to find your best rate — at zero cost to you.
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Disclaimer: The mortgage estimates in this email are for informational purposes only and do not constitute financial or mortgage advice. Actual rates, terms, and approvals vary. Consult a licensed mortgage professional before making financial decisions. Phoenix Home Realty assumes no liability for reliance on these estimates. By submitting, you consent to receive communications from Phoenix Home Realty in accordance with CASL.
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