How we compute

Goal: estimate the monthly and 5-year overpayment between your current monthly payment (rate signed 5 years ago) and the payment at the rate your bank is offering at renewal, plus the loyalty premium you'd pay by signing without comparing to the current market rate.

Formula

Fixed-rate amortizing loan monthly payment: M = P × (i × (1+i)^N) / ((1+i)^N − 1)

• P = remaining principal (mortgage balance)
• i = monthly rate = annual rate ÷ 12
• N = total monthly payments = amortization years × 12

Fixed assumptions

• Residual amortization: 25 years.
• Term: 5-year fixed (dominant in Quebec).
• No fees or break penalties — pure rate vs rate comparison.

Limits

• Doesn't account for your credit score, LTV, lender type, CMHC insurance or actual file structure.
• Reference market rate is an indicative median, not a promise. No AMF broker in the network can guarantee a rate before full file analysis.
• Courteo is not a broker. Mortgage mandates are handled by an independent AMF-licensed broker from the Courteo network.

Goal: estimate the maximum property price you can finance under Canadian federal rules.

• GDS ≤ 39%, TDS ≤ 44%, 5.25% stress test
• 25-year amortization, 1% property tax, $100/month heating, 50% of condo fees.

Median of publicly posted Big 6 + Desjardins 5-year fixed rates, refreshed daily at 06:00 EST. Promotions not publicly posted are not captured. Full source list at Sources and data.

Courteo is paid by AMF brokers in the network for the matchmaking, not by you. No fees are charged to borrowers. Courteo's compensation is independent of which lender is ultimately chosen — eliminating recommendation bias on our side.

Any material change to a formula or assumption is logged here with its date.

No changes to date (initial version 2026-05-10).