Important information
, Mortgage Brokerage, FSRA Licence #. ·
This is not a mortgage approval
This application and the estimate shown are based only on the information you enter. They are not a mortgage approval, pre-approval or commitment to lend. No credit check is done when you submit. Any mortgage is subject to lender approval, which may include a credit report, verification of your income, employment and down payment, a property appraisal, and approval by a mortgage default insurer (CMHC, Sagen or Canada Guaranty) where required. Lending guidelines change without notice.
About the rates shown
The rates on this page are guidelines and placeholders for planning, not an offer, quote or rate hold. When available, they are calculated from the latest Government of Canada bond yields and chartered bank prime rate published by the Bank of Canada, plus a typical market margin. If that data can't be loaded, fixed guideline rates are shown instead. Actual rates vary by lender, product, credit, down payment, property and closing date, and can change daily. Your rate is confirmed only in a lender's written commitment.
How the estimate is calculated
Estimates qualify you at the federal minimum qualifying rate, which is the greater of the guideline rate plus 2% or 5.25%. They apply standard debt service limits of 39% of gross income for housing costs and 44% for total debts, an estimated $100 a month for heating, half of any condo fees, property tax at 1% of the home's value per year unless you enter it, and 3% of credit card and line of credit balances as a monthly payment. Down payments under 20% require mortgage default insurance; the premium is estimated and added to the mortgage. Individual lenders may use different rules.
$ cash back conditions
Available when a complete application is submitted through this page and the resulting mortgage is arranged by and funds. Paid by the brokerage to the borrower(s) after funding. One payment per mortgage transaction, regardless of the number of borrowers. Not available on mortgages arranged through another brokerage or directly with a lender, and not combinable with other brokerage offers unless stated in writing. The cash back is a brokerage incentive and does not change your lender's rate or terms. The brokerage may change or end this offer at any time; the offer in place when you submit your application applies. It is shown on the disclosure documents you receive before signing.
Disclosure and compensation
Before you commit to a mortgage, you will receive the disclosures required under Ontario's Mortgage Brokerages, Lenders and Administrators Act, 2006, including the cost of borrowing, any fees, and the compensation the brokerage receives. Questions or complaints can go to the brokerage first, or to the Financial Services Regulatory Authority of Ontario (FSRA) at fsrao.ca.
Privacy
We collect the information on this page to prepare your mortgage application and contact you about it in the way you choose. We don't sell your information. We share it with lenders and mortgage insurers only when you ask us to proceed with an application. Please don't send your Social Insurance Number or banking details through this form. Marketing emails are sent only if you opt in, and every message includes a way to unsubscribe. To access, correct or delete your information, email . Full privacy policy.
Information on this page is general and is not financial, legal or tax advice. © The Cornerstone Mortgage Group Inc.
