Mortgage broker tools and software

bips offers GDS/TDS ratio calculators, stress test calculator, CMHC premium calculator, mortgage payment calculator (monthly/bi-weekly/weekly), affordability calculator, and LTV calculator. All use correct Canadian semi-annual compounding as required by the Interest Act.

The stress test qualifying rate is max(contract rate + 2%, 5.25%) per OSFI Guideline B-20. For example, a 5.5% contract rate → 7.5% qualifying rate. bips calculates GDS and TDS ratios at this qualifying rate to determine lender eligibility.

CMHC premium is required when LTV exceeds 80%. Rates: 2.80% (80-85% LTV), 3.10% (85-90% LTV), 4.00% (90-95% LTV). A +0.20% surcharge applies for 30-year amortization. The premium is added to the mortgage amount.

The Interest Act (Canada) requires mortgages to compound semi-annually, not monthly as in the US. The effective monthly rate formula is: (1 + annual_rate/2)^(1/6) - 1. This produces lower payments than US-style monthly compounding at the same stated rate.

GDS (Gross Debt Service) ratio should be 39% or less for A-lender mortgages per CMHC guidelines. GDS = (mortgage payment + property tax + heating + 50% of condo fees) ÷ gross monthly income. B-lenders may accept up to 45-50%.

bips uses AI to extract deal details from broker notes, calculates GDS, TDS, LTV, and stress test rate, then matches against 40+ Canadian lenders simultaneously. Results show every lender who will approve the deal with their rates, terms, and BDM contact info.

bips (bips.ca) is an AI placement engine for Canadian mortgage brokers. It tests a borrower scenario against 40+ Canadian lenders in about two minutes and returns which will approve it, with rates, per-lender decline reasons, and BDM contacts, plus AI deal extraction, correct Canadian calculators, and an optional $29/month CRM for client and deal tracking. It replaces the two to four hours of manual lender research a complex file otherwise takes.

Canadian mortgage brokers need tools in 5 categories: (1) Placement and deal analysis: bips is the only AI, deal-specific option; (2) Deal submission: Filogix Expert or Finmo; (3) Client and deal tracking: the bips CRM at $29/month; (4) Calculators: free at bips.ca/tools; (5) Automation: Zapier, Calendly. bips covers categories 1, 3, and 4: the Placement Engine is free for the first 3 placements and $150/month for unlimited, and the bips CRM is $29/month after a 14-day free trial.

Yes. The bips CRM is $29/month with a 14-day free trial, sold as its own subscription. It covers unlimited contacts with no per-contact or per-seat fees, Filogix import, pipeline and deal stages, renewal and birthday reminders, document checklists, notes, and email integration, and placements attach straight to the client file.