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Readvanceable Mortgage Tool

Readvanceable Mortgage Comparison: Manulife One vs TD vs Scotia vs National Bank

Compare daily HELOC interest, sub-account fees, prepayment privileges, and 5-year cost across the four major Canadian readvanceable products — with full amortization tables for both your HELOC and fixed sub-accounts.

Your Mortgage

$

Appraised value

$

LTV: 67%

35%
HELOC: $210,000 Fixed: $390,000

HELOC cap: $585,000 (65% LTV)

Default: Prime (4.45%) + 0.50% = 4.95%

Live 5-yr fixed: 4.04% (National Bank). Applied to all 5 lenders — override per lender below.

Per-lender fixed rate overrides (optional) Click to expand

Leave blank to use the global Fixed Rate above. Use this to compare lenders' actual quoted rates.

25 yrs
5

Cash Flow into HELOC

$
$
$

Capped at lender's privilege

Accelerated = ~1 extra monthly payment per year, hits principal directly.

📈 Prime Rate Change Scenario — Annual Cumulative (HELOC) 0.25% increments

HELOC rates float with Prime. Each box = where Prime sits in that year vs today (cumulative, not per-announcement). The Bank of Canada has 8 scheduled decisions per year, but most calculators (RateHub, BoC stress test) use annual cumulative because borrowers think in yearly terms.

Tip: You choose when the hike happens. Leave earlier years at 0 and add the change only in the year you expect it (e.g. flat for 2 yrs, then +0.50 in Yr 3 — enter Yr 1=0, Yr 2=0, Yr 3=0.50, Yr 4=0.50, Yr 5=0.50). Fixed sub-account is rate-locked and unaffected.

Negative values allowed (rate cuts). Each year's value is the cumulative change from today's Prime — not the change from the prior year.

Manulife One

    5-Year Total Interest

    $0

    5-Year Sub-Account Fees

    $0

    —

    Prepayment Savings Used

    $0

    Effective Blended Rate

    0.00%

    5-Year Total Cost — All 4 Lenders

    Lower is better. Includes interest + fees − prepayment savings.

    Best for your inputs

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    Enter your numbers to see the recommendation.

    Mortgage-Free Timeline by Strategy

    Years to fully pay off the combined HELOC + Fixed balance using each lender's prepayment privileges, your annual lump-sum, and net cash flow swept against the HELOC.

    Baseline = scheduled amortization, no prepayment

    HELOC vs Fixed vs Hybrid — Fastest Payoff per Lender

    For each lender, we run 3 structures using the same total mortgage, rates, income and expenses — then highlight the fastest. Each structure uses that lender's maximum prepayment privilege every anniversary.

    HELOC Fixed Hybrid

    Prime Rate Hike Impact — HELOC Interest by Year

    Year-by-year HELOC interest using your hike scenario, on a $0 HELOC balance (current split). Adjust the hike inputs on the left.

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    HELOC Daily Amortization

    First 60 days daily, then monthly to month 60

    Day Opening Balance Interest Accrued Deposits Withdrawals Closing Balance

    Fixed Sub-Account Amortization

    Monthly schedule, semi-annual compounding, lender prepayment auto-applied

    Month Payment Principal Interest Balance Cum. Interest

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