Mark and Catherine recently negotiated a 25-year, $350,000 mortgage, with a fixed rate of 3.1% for 5 years.  The Bank of Canada 5-year benchmark rate is currently 5.25%.  What monthly mortgage payment will be factored into the calculation of their Total Debt Service ratio (TDR) under the mortgage stress test?

Val has just purchased her first home.  Her gross income is $6,000 a month and her GDS ratio is 30%.  Non-mortgage costs per month are $600.  Val's mortgage has a 3%, compounded semi-annually rate, with an amortization period of 25 years and monthly payments.  If her home is valued at $350,000, which describes the type of mortgage has she?

Judith has recently taken out a mortage for $175,000 at a rate of 3.2%, compounded semi-annually, with an amortization period of 22 years.  How much principal will she pay in the 40th month?  Her payments are monthly.

You are analyzing the opportunity cost of your down payment in making a rent versus home purchase cost comparison.  If your available downpayment is $35,000 which could have been invested at 1.8%, compounded semi-annually, what is the after-tax opportunity cost of using this money as your down payment?  Your marginal tax rate is 30%.