Percentage of Basement Suite Income Used
20% basement suite income used
40% basement suite income used
​80% basement suite income used
85% basement suite income used

​Amortization
25 Year Amortization
30 Year Amortization

Qualifying Rate
2.49%
2.69%
4.64%

# of Suites
1 Suites
2 Suites

Case Study- Property that has 2 basement suites that rent out for $1000/month each

1) 5% Down, 10% Down or Less Than 20% Down – CHMC Insured – All Banks – $35,473 extra mortgage funds 
20% basement suite income used
25 Year Amortization
4.64% Qualification Rate
1 Suite Only Allowed 

$1000/month x 20% = $200/month allowed
$200/month @4.64% @ 25 Year Amortization 
$35,473 extra mortgage funds 

2) 5% Down, 10% Down or Less Than 20% Down – Genworth Insured – Most Banks – $70,946 extra mortgage funds
40% basement suite income used
25 Year Amortization
4.64% Qualification Rate
1 Suite Only Allowed 

$1000/month x 40% = $400/month allowed
$400/month @4.64% @ 25 Year Amortization 
$70,946 extra mortgage funds 

3) 20% Down – RBC, CIBC, TD BANK, BMO, ​HSBC  + Few Credit Unions – $50,684 extra mortgage funds 
20% basement suite income used
30 Year Amortization
2.49% Qualification Rate
1 Suite Only Allowed 

$1000/month x 20% = $200/month allowed
$200/month @2.49% @ 30 Year Amortization 
$50,684 extra mortgage funds 

4) 20% Down – CMLS, MCAP, Candiana, ICICI Bank, Radius (Most Monoline Lenders) – $155,328 extra mortgage funds 
80% basement suite income used
30 Year Amortization
4.64% Qualification Rate
1 Suite Only Allowed 

$1000/month x 80% = $800/month allowed
$800/month @4.64% @ 30 Year Amortization 
$155,328 extra mortgage funds 

4) 20% Down – Coast Capital + Other Credit Unions – $419,680 extra mortgage funds
85% basement suite income used
30 Year Amortization
2.69% Qualification Rate
2 Suites Allowed 

$2000/month x 85% = $1700/month allowed
$1700/month @2.69% @ 30 Year Amortization 
$419,680 extra mortgage funds 
​
These numbers can change as rates/qualifications/rules change.