This calculator is designed for separating homeowners who want to see whether a standard refinance may work, or whether a Spousal Buyout Mortgage, Alternative Lender, or Private Mortgage may be more appropriate.
Property and Payout Details
Registered debts secured against the property and expected to be paid out on refinance.
50%
Use the departing spouse's share of the net equity.
Net Equity After Selling Costs—
Estimated Equity Payout—
⚠️ Negative Equity Detected: The existing mortgage, secured debts, and deducted costs exceed the home’s appraised value by . There is no equity to divide. Selling the home may not cover all debts — contact Allen to discuss your options.
Selling Costs
Use this when you want the payout estimate to reflect a notional sale cost for commission.
—
Use this for estimated selling expenses such as staging, cleaning, minor repairs, or similar sale-related costs.
Total Selling Costs—
Per-Spouse Share of Selling Costs—
When included, the calculator deducts the total selling costs from the equity before calculating the buyout amount, and shows each spouse's half-share for reference.
Mortgage Costs and Break Costs
For fixed-rate IRD calculations: enter the lender’s current posted rate for a term matching your months remaining — not your discounted contract rate. This rate is published on your lender’s website. Using the wrong rate will significantly misstate the penalty.
When checked, mortgage break costs and refinance fees are deducted from equity first so both spouses share them before the payout is calculated.
Estimated Mortgage Penalty—
Mortgage Costs—
Total Costs—
Cost Allocation—
⚠️ Mortgage penalty is an estimate only. Actual penalties vary significantly by lender and are calculated on their posted rates at the time of payout — contact your lender for a formal payout statement.
New Refinance Assumptions
25 yrs
⚠️ Most prime lenders cap uninsured mortgages (LTV ≤ 80%) at 25 years. A 30-year amortization is generally only available on insured or alternative lending products.
The payment shown below uses the refinance rate you enter here. GDS and TDS are shown for guidance using qualifying logic, but the display is kept simple for consumers.
CMHC Default Insurance (Spousal Buyout)
—
Insurance Requirement—
Premium Rate—
Required Premium Added to Mortgage—
Provincial Sales Tax on Premium—
Non-Financeable Tax Cost—
Status—
Spousal buyouts are treated as purchase-equivalent transactions by CMHC, so the full insured tiers (80.01%–95% LTV) apply — not the more restrictive refinance rules. Properties above $1,500,000 are not insurable. The premium is calculated on the base mortgage (before the premium is added), then financed into the mortgage, which increases the final LTV, monthly payment, GDS, and TDS. Provincial sales tax on the premium applies in Ontario (8%), Quebec (9%), and Saskatchewan (6%) and must be paid in cash at closing — it cannot be financed.
Income and Property Costs
Results
Required New Mortgage—
Estimated Monthly Payment—
Loan-to-Value
—
0%80%95%
GDS
—
0%39%50%
TDS
—
0%44%50%
Equity Waterfall
Including selling costs assumes a notional future sale, reducing the equity divided today. When “Split Refinance Costs” is checked, the full penalty and fees are deducted from equity before calculating the departing spouse’s payout — this lowers what they receive. The staying spouse still finances the full costs in the new mortgage. This is standard spousal buyout treatment: the departing spouse bears their share through a reduced payout rather than a separate cash payment.
Home Value—
Less: Existing Mortgage—
Less: Other Secured Debt—
Less: Selling Costs—
Less: Shared Refinance Costs—
Net Equity—
Departing Spouse Share—
Estimated Buyout Amount—
Existing Mortgage to Repay—
Plus: Other Secured Debt—
Plus: Buyout Amount—
Plus: Penalty and Fees—
Plus: Financed Insurance Premium—
Required New Mortgage—
Cash Needed at Closing
Mortgage insurance premium is financed into the mortgage. Provincial sales tax on that premium, where applicable, must be paid in cash at closing.
Mortgage Penalty—
Legal Fees—
Appraisal—
Admin / Discharge Fees—
Other Fees—
Provincial Tax on Insurance—
Total Cash Required—
Prime guideline benchmark used here: 39% GDS / 44% TDS. Standard refinance benchmark: 80% maximum LTV.
Recommended Path
Complete the fields to see your likely path.
This section will tell the user whether the scenario looks more suitable for a standard refinance, a Spousal Buyout Mortgage, an Alternative Lender, or a Private Mortgage.
Need help with your next step?
Allen Ehlert can review your refinance, spousal buyout, alternative lending, and private mortgage options.
