Welcome to our mortgage tools page. Here, you can get an accurate look at your mortgage finances.

Whether you are buying a new home or looking to utilize your current home’s value, the tools on this page will allow you to accurately calculate your available home equity, mortgage eligibility, and monthly payments based on various interest rates.

The first tool is the mortgage payment calculator. The mortgage payment calculator allows you to forecast monthly expenses for your expected mortgage. It can calculate your monthly or total interest payments and monthly or total principal payments to be made over the course of the mortgage. This calculator works for interest-only and amortization-based mortgages.

The second tool is the Loan-to-Value ratio or (LTV) tool. LTV is a term used to describe the value of a loan compared to the total value of your home. Your LTV shows how much equity you have in a property, in most cases this is a primary residence, but the LTV ratio can be used for securing loans from other properties as well. By finding out your LTV, you discover how much equity you have available and what kind of loans you are eligible for. These loans could be used for anything including debt consolidation, home renovations, repairs, and other investments. Generally, the higher the LTV for a loan, the higher the interest rates a lender will charge.

Our next tool is the private mortgage rate estimator. Private lenders are not represented by major financial institutions. They have a variety of practices and requirements related to lending and charging interest, and their mortgages and loans vary depending on who their borrowers are. The private mortgage rate estimator shows the expected rate of interest you might be charged along with your required LTV for mortgage approval from a private lender. 

The final tool on this page is our automatic private mortgage pre-approval tool. Use this to find out if you qualify for a private mortgage or home equity loan. The whole process should only take a few minutes to complete each of the forms included in the tool When you finish the forms, the tool will indicate if you qualify for a private mortgage and can email approval documents to you.  You can use the approval documents when you contact us for help.

Getting a mortgage or other loan can be stressful. These mortgage tools can provide the information you need to help you plan ahead and achieve your goals. Use our tools as often as you like! Feel free to call or email us if you have any questions and our staff will be happy to help.

Mortgage Payment Calculator

Ron Alphonso on the ILMB PodcastThis tool will allow you to calculate your expected regular mortgage payment. The tool supports a range of different payment schedules and amortization terms. Interest-Only interest payments can also be calculated.
Try This Mortgage Payment Calculator

Loan-to-Value Ratio Calculator

Loan-to-Value Ratio CalculatorThis simple tool will calculate your Loan-to-Value ratio on a requested first, second, or third mortgage. This is useful for private mortgage lenders who primarily rely on LTV to approve mortgage requests.
Try This Loan-to-Value Ratio Calculator

Private Mortgage Rate Estimator

Private Mortgage Rate EstimatorThis will consider both your LTV ratio as well as your city to give an expected interest rate on a private lender mortgage. This tool uses up to date info on lender LTV requirements for every Ontario city and town in order to provide an accurate estimate.
Try This Private Mortgage Rate Estimator Calculator

Automatic Private Mortgage Pre-Approval Tool

Automatic Private Mortgage Pre-Approval ToolThis tool will take into account all your information for a private mortgage request and generate an approval. If you qualify, you will be sent a PDF pre-approval document via email. If the system cannot approve you, a human evaluator will consider your mortgage request and follow up with you.
Try This Automatic Private Mortgage Pre-Approval Tool

Rent vs Buy Calculator

Rent vs Buy CalculatorThe Rent vs Buy Calculator tool will help give a potential Ontario homeowner a fair idea of the cost difference between renting or owning.
Try This Rent vs Buy Calculator