Mortgage Advisor

New Client Generic / Default

Monthly Payment

—

Total Housing: —

INCOMPLETE Enter income, property & rate

Income

—

Mortgage

—

Housing

—

Debts

—

Qualifying stress-tested

GDS

—

≤ 39%

TDS

—

≤ 44%

Stress Rate

—

B-20

Contract actual

GDS

—

TDS

—

Client Profile

Client Name

Co-borrower

Purpose

Occupancy

Property Type

Province i

Credit Score (Beacon) i

City

Closing Date

Rate Hold Expiry

Broker Notes

✓ No issues detected — enter data to begin

Credit Profile for underwriter submission

Number of Trade Lines

Years of Credit History

Revolving Utilization (%) i

Derogatory Items

Credit Narrative i

Exception Request Notes i

Visual Snapshot

Payment Breakdown

Income / Housing / Debts

Net Worth & Assets compensating factors

Enter liquid assets. Liabilities auto-pulled from Debts tab. Strong net worth supports exception requests.

Savings / Chequing ($)

TFSA ($)

RRSP ($)

FHSA ($)

Non-Reg Investments ($)

Vehicles ($)

Other Assets ($)

Total Assets

Total Liabilities

Net Worth

Income & Rental

OT / bonus / commission require 2-year average. Self-employment uses NOA Line 15000.

Monthly Total: $0

Employment Income

Base Salary — Annual ($) i

Hourly Rate ($) i

Hours / Week

Weeks / Year

Employment Type

Employer Name

Job Title

Start Date

Co-Borrower Income second applicant

Co-Borrower Salary — Annual ($) i

Co-Borrower Other — Annual ($)

Co-Borrower Total (Mo)

Co-Borrower Employment

Co-Borrower Employer

Co-Borrower Title

Co-Borrower Start Date

Variable Income 2-year average required

Overtime — Last Year ($)

Overtime — Prev Year ($)

Bonus — Last Year ($)

Bonus — Prev Year ($)

Commission — Last Year ($)

Commission — Prev Year ($)

Self-Employment & Other Income

SE — NOA Line 15000 (Last Yr) i

SE — NOA Line 15000 (Prev Yr)

Support Income — Annual ($) i

Other 1 — Annual ($)

Other 2 — Annual ($)

Other 3 — Annual ($)

Will the new property generate rental income?

Turn this ON if client is buying an investment property or renting out a suite. The expected rent offsets the new mortgage in GDS/TDS.

Converting current home to rental?

Client is upsizing — buying a new primary residence and keeping their current home as a rental property.

Does client own other rental properties?

Turn this ON if client already owns investment properties in addition to their primary residence. Mortgage payments flow to TDS as debt. Rental income gets credited per lender method.

Employment + Co-Borrower (Mo)

New Property Rental

Rental Portfolio → Income

Existing Property → Income

Total Usable Income (Mo)

Debts

Enter actual monthly payment if known — otherwise policy % of balance applies.

Total in TDS: $0

Existing Property & Mortgage if client already owns a home

Does your client currently own a property? This is typically their primary residence or a recently acquired property. Select what's happening to it — this one dropdown drives the entire deal structure. If they own additional rental properties, those go in Income & Rental tab → Additional Rental Properties.

Current Property Value ($) i

Mortgage Balance ($)

Mortgage Payment ($/Mo) i

Mortgage Rate (%)

Property Tax / Year ($)

Heat / Year ($)

Condo Fees / Month ($)

What's Happening to This Property? i

Credit Cards & Lines of Credit Cards/LOC: 3% • Student: 1%

Card 1 — Balance ($) i

Card 1 — Actual Pmt ($)

Card 2 — Balance ($)

Card 2 — Actual Pmt ($)

Unsecured LOC — Balance ($)

Unsecured LOC — Actual Pmt ($)

HELOC Balance ($)

HELOC Rate (%) i

Installment & Other Debts

Car Payment 1 — Monthly ($)

Car Payment 2 — Monthly ($)

Student Loan — Balance ($) i

Student Loan — Actual Pmt ($)

Other Debt 1 — Monthly ($)

Other Debt 2 — Monthly ($)

Personal Debts (Cards/LOC/Loans)

Rental Portfolio → TDS

Existing Property → TDS

Total Debt Pmts in TDS

Purchase & Pre-Approval

CMHC premiums • cash to close • max affordable • Dec 2024 rules • $1.5M insurable cap • 30-yr FTHB/New Build

First-Time Home Buyer i New Build / New Construction i Straight Switch / Renewal i

Property & Mortgage

Purchase Price ($) *

Down Payment ($) * i

Down Payment Source i

Min Down Payment Required

Contract Rate (%) *

Amortization (Years) i

Closing Costs (%) i

Monthly Carrying Costs

Property Tax — Annual ($) i

Heat — Annual ($) i

Condo Fees — Monthly ($) i

Other Housing — Monthly ($)

Mortgage Summary

Down Payment %—

LTV—

Base Mortgage—

CMHC Premium Rate—

CMHC Premium ($)—

PST on Premium

Mortgage incl. Premium—

Cash & Payments

Closing Costs (Est.)—

Land Transfer Tax—

FTHB LTT Rebate—

Net LTT—

Cash Needed (DP + Closing + LTT)—

Contract Payment / Month—

Total Housing Cost / Month—

Max Affordable Price—

Toronto Municipal LTT i

Rate Comparison — Side by Side ±0.25% to ±1.00% vs your rate

Rate	Payment/Mo	vs. Yours	Total Interest	Int. Difference	Total Paid
Enter mortgage details and contract rate

Amortization Schedule — Yearly Full breakdown by year

Year	Annual Pmts	Principal	Interest	Balance	Cumul. Interest
Enter purchase details to see schedule

HELOC Capacity

Standard 65% HELOC / 80% combined LTV limit. Varies by lender.

Generic: 65% HELOC • 80% Total

Current Property Value ($)

Current Mortgage Balance ($)

Proposed HELOC Rate (%) i

Max HELOC Portion (65%)

Max Total Limit (Mtg + HELOC)

Theoretical New HELOC Limit

Interest-Only Pmt @ Full Limit

Status

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Refinance

Penalty estimate • equity access • payment change • post-refi ratios.

Understanding Term vs. Amortization

Last
Renewal

Remaining TermUsed for IRD penalty

Next
Renewal

Remaining AmortizationUsed for payment calc

Fully
Paid Off

Example: 5-year term, now 8 years into a 25-year mortgage → Remaining Term = 2 yrs · Remaining Amort = 17 yrs

Current Mortgage

Appraised Value ($)

Current Balance ($)

Current Rate (%)

Remaining Term (Years) i

Remaining Amortization (Years) i

Penalty Type i

New Mortgage

New Rate (%)

New Amortization (Years)

Requested Mortgage ($)

Extra Costs (Lawyer, Appraisal, $)

Max Refi @ Lender LTV

Available Equity

Penalty Estimate

Current Payment (Approx)

New Payment

Payment Difference

Post-Refi GDS

—

Post-Refi TDS

—

Enter values above to see suitability assessment.

Net Benefit Analysis Is the refinance worth it?

Total cost of refinancing vs. total savings over the new term. The #1 question every refi client asks.

Legal / Notary ($)

Appraisal ($)

Discharge Fee ($) i

Enter current and new mortgage details above

Scenarios & Deal Tools

Debt payoff simulator • gap analysis • fixed vs variable • prepayment scenarios

Gap Analysis Auto

When a deal fails, this tells you exactly what to change. When it passes, shows your cushion.

Enter income, debts, and purchase details to see gap analysis

Compare Scenarios "What if we go lower?"

Save the current numbers as Deal A, change the price/DP/rate, then save as Deal B. See them side by side.

Save Deal A, then change values and save Deal B to compare

Debt Payoff Simulator "What if they pay off X?"

Shows what happens to TDS if each individual debt is eliminated. Gold rows = deal passes after payoff.

Debt	Balance	Monthly	New TDS	TDS Drop	Result
Enter income, debts, and purchase details first

Fixed vs. Variable breakeven analysis

Variable Rate (%) i

Prime Discount (%) i

Term (Years)

Type	Payment/Mo	Interest (Term)	Principal Paid	Difference
Enter fixed rate in Purchase tab and variable rate above

Prepayment Scenarios extra monthly payments

Extra Monthly Payment ($) i

Base Mortgage Payment

Payment with Extra

Payoff Time with Extra

—

Total Interest Saved

—

Years Saved

—

Broker Note

Your internal planning document. Client-facing. Edit freely before printing.

Payments: Canadian semi-annual compounding (Interest Act) • GDS/TDS per CMHC formula (50% condo fees) • CMHC rules as of Dec 15, 2024 • $1.5M insurable cap • 30-yr FTHB/New Build (+0.20% surcharge) • OSFI B-20 stress test (5.25% floor / contract+2%) • Existing rental properties: income & debt per lender method • Land transfer tax by province (incl. Toronto municipal) • PST on premiums: ON, QC, SK, MB • Prime: 4.45% (BoC 2.25%, Feb 2026) • Not a commitment to lend. Always verify against official lender / insurer calculators.

Underwriter Submission Note

Professional cover letter for lender submission. Copy & paste into Filogix notes or email to BDM.

What makes a strong underwriter note? tips

The underwriter reads 40+ files a day. Your note is the first thing they see. A clear, complete note = faster approval, fewer conditions, better relationship with the lender.

Structure matters: Lead with the deal summary (who, what, how much). Follow with income verified against specific documents (T4 Box 14, NOA Line 15000, employment letter). Then credit narrative. Then ratios. Then compensating factors if borderline.

Be specific: "Strong income" is useless. "$85,000 base salary per 2024 T4, Box 14 — confirmed permanent full-time via employer letter dated Feb 2026" is what gets deals approved.

Compensating factors that actually matter: Net worth (liquid assets relative to mortgage), employment stability (years at same employer), credit history (years, utilization, trade count), property value trends, low LTV, and income trajectory.

Exception requests: If you're asking for a GDS/TDS exception, state exactly what you're requesting, why it's justified, and what compensating factors support it. "Requesting GDS exception to 41% — Beacon 724, 15-year employment, $180k net worth, R1 on all trades" is a fundable exception.

This note is auto-generated from entered data. Always review and customize before submission. Verify all figures against source documents. Not a commitment to lend.