Ontario

Mortgage broker in Ontario

One application, 65+ lenders. An independent Ontario mortgage broker shops your file across banks, credit unions, monoline and alternative lenders instead of quoting a single rate sheet.

Get my rate →

What should I know before getting a mortgage in Ontario?

A mortgage broker in Ontario submits one application to more than 65 lenders and brings back the best approval, rather than the single rate one bank happens to offer. Home prices across Ontario run from $520,000 to $1,400,000 in the markets we cover, so the qualifying amount and the closing costs differ sharply city to city.

Ontario charges provincial land transfer tax on every purchase, and buyers inside the City of Toronto pay a second municipal land transfer tax of roughly the same amount on top. First-time buyers can claim up to $4,000 back provincially and up to $4,475 in Toronto.

Ontario is Canada's deepest lender market: every major bank, credit union, monoline and alternative lender competes here, so the rate one bank quotes is rarely the best one available on the same application.

Ontario closing tax: land transfer tax.
Typical prices across the province: roughly $500,000 in Windsor and Thunder Bay to about $1,050,000 in Toronto, with most of the GTA between $800,000 and $1,000,000.
Licensed and regulated by FSRA (Financial Services Regulatory Authority of Ontario).
One application is shopped across 65+ lenders, not one bank's rate sheet.

Ontario mortgage broker coverage, city by city

Each city page carries its own benchmark price, minimum down payment, estimated monthly payment and closing costs for that market.

See today's Ontario mortgage rates, estimate a payment in the mortgage payment calculator, or check your closing costs in the land transfer tax calculator. Prices shown are rounded market estimates.

Best available rates shown are from 8Twelve's lender panel and are subject to your qualification, lender approval, and change without notice. On approved credit (OAC).

Free Ontario mortgage quote

See what you qualify for in Ontario

No credit check · Takes about 3 minutes · No obligation

Step 1 of 6

What do you need help with?

Your information is secure and never shared.

Ontario mortgage broker questions

How much is land transfer tax in Ontario?

Ontario land transfer tax on an $800,000 home is about $12,475. If the property is inside the City of Toronto, the municipal land transfer tax adds roughly the same amount again, taking the total to about $24,950. First-time buyers can claim up to $4,000 provincially and up to $4,475 municipally in Toronto.

What do mortgage rates look like in Ontario right now?

Our best available insured five-year fixed rate for Ontario is currently about 4.14%, drawn from our lender panel and subject to qualification and lender approval. Rates move daily, so the Ontario rates page shows the live figure.

Do I need a mortgage broker licensed in Ontario?

Yes. Anyone arranging a mortgage on an Ontario property must be licensed by FSRA. 8Twelve Mortgage is a FSRA-licensed brokerage with agents across the province, from Ottawa and Kingston through the GTA to Windsor.

Is a mortgage broker cheaper than a bank in Ontario?

A broker is normally paid by the lender on standard residential deals, so there is usually no fee to the borrower. Because the same application is shopped across 65+ lenders rather than one rate sheet, the pricing and the qualifying room are generally better than a single branch can offer.

Which Ontario cities does 8Twelve cover?

All of them. We have dedicated pages for Toronto, Mississauga, Brampton, Ottawa, Hamilton, London, Markham, Vaughan, Kitchener, Windsor, Oshawa, Barrie, Kingston, Guelph, Burlington, Oakville, Richmond Hill, St. Catharines, Niagara Falls and Scarborough, and we lend across the rest of the province too.

Talk to a Ontario mortgage broker

One application, 65+ lenders, no obligation.

Get a free quote →