Editorial Standards & Methodology

Our live prime and policy rates come directly from the Bank of Canada Valet API. The Canadian prime rate is derived using the standard formula (overnight target + 2.20%).

Down payment rules, CMHC premium tiers, and the stress test follow guidelines published by CMHC and the Office of the Superintendent of Financial Institutions (OSFI).

Land transfer tax brackets reflect each province's published rates and first-time buyer rebate thresholds.

Our calculators use the standard Canadian mortgage formula with semi-annual compounding conventions where applicable. Amortization schedules are computed month by month.

Estimates for penalties, refinancing, and rent-vs-buy use transparent assumptions that are stated directly on each calculator so you can verify and adjust them.

Our tools are for education and planning. They're estimates, not financial advice or formal mortgage quotes.

Prime and policy rates refresh automatically every hour from the Bank of Canada. Posted bank rates are reviewed and updated regularly to reflect market conditions.

Guides and data pages display a "last updated" date. We revise content whenever government programs, tax rules, or lending guidelines change.

HomeWise is independent. Our calculators and guides are not influenced by any lender, and we don't tailor results to favour particular institutions.

We strive for accuracy, but rates, taxes, and programs change. Always confirm figures with your lender, lawyer, or a licensed mortgage professional before making a decision.

Found an error? We want to know — see below to get in touch.

HomeWise was created and is maintained by its founder, Rishi Mohan. In the interest of full transparency, Rishi is not a licensed mortgage broker or financial advisor — HomeWise is an independent project built to make Canada's housing market easier to understand.

Because of that, every number on the site is grounded in authoritative, published sources rather than personal opinion: the Bank of Canada, OSFI, CMHC, and official provincial tax tables. Each calculator states its assumptions so you can verify the math yourself.

Every page shows when it was last reviewed, and we revise content whenever rates, tax rules, or lending guidelines change. For decisions about your own mortgage, always confirm the figures with a licensed professional.