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RateCore
HomeCitiesToronto
Greater Toronto Area · Ontario

Toronto Mortgage Broker

Canada's largest city and most competitive mortgage market. Toronto buyers pay both provincial and municipal land transfer tax, making broker guidance critical to managing closing costs and securing the best available rate.

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Region
Greater Toronto Area
Population
2.9M+
Avg Home Price
$1,050,000
Min Down Payment
$210,000
⚠

Toronto Land Transfer Tax applies. Toronto properties are subject to both Ontario land transfer tax and City of Toronto land transfer tax. First-time buyers can save up to $8,475 in combined rebates.

Today's Best Toronto Mortgage Rates

Representative rates from our lender panel. Your rate depends on down payment, income, and credit profile.

TermRate
1-Year Fixed5.09%Get this rate →
2-Year Fixed4.89%Get this rate →
3-Year FixedPopular4.64%Get this rate →
5-Year Fixed4.44%Get this rate →
5-Year Variable5.10%Get this rate →

Rates updated weekly. OAC — rates are not guaranteed until a formal commitment is issued.

Why Toronto Buyers Choose RateCore

Our brokers know the Toronto market and have access to lenders that don't advertise publicly.

  • Access 30+ Ontario lenders in one application
  • FSRA-licensed brokers — no commission from you
  • Pre-approval decision in 24–48 hours
  • Rate holds up to 120 days
  • Municipal + provincial LTT calculated for you
  • CMHC insurance structured to minimise premiums
Start My Application — Free
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Run the Numbers for Toronto

Our calculators are pre-set to Toronto's average home price. See your monthly payment, affordability ceiling, and closing costs in seconds.

Payment CalculatorAffordability CalculatorStress Test CalculatorLand Transfer Tax (Toronto)

Toronto Mortgage FAQ

What is the average home price in Toronto?
The average home price in Toronto is approximately $1,050,000 as of 2025. Toronto properties are subject to both Ontario land transfer tax and City of Toronto land transfer tax. First-time buyers can save up to $8,475 in combined rebates.
Do I need 20% down to buy in Toronto?
Most properties in Toronto exceed $1M, which means CMHC insurance is not available and you'll need at least 20% down. For a $1,050,000 home that's roughly $210,000. A broker can help you structure your financing optimally.
Is there a municipal land transfer tax in Toronto?
Yes — Toronto buyers pay both the Ontario provincial land transfer tax AND the City of Toronto municipal land transfer tax. First-time buyers can save up to $8,475 in combined rebates. A broker will calculate your exact closing costs.
How do I qualify for a mortgage in Toronto?
To qualify for a mortgage in Ontario, lenders assess your income, credit score, down payment, and existing debts. All buyers must pass the mortgage stress test (qualifying at 5.25% or your contract rate + 2%, whichever is higher). A broker who knows the Toronto market can match you with the lender most likely to approve you.
How fast can I get pre-approved for a Toronto property?
RateCore typically delivers a pre-approval decision within 24–48 hours of receiving your documents. Start your application online in under 5 minutes and a broker will reach out within 1 business day.
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Ready to Buy in Toronto?

Get matched with a broker who knows Toronto. We'll compare rates from 30+ lenders and send you personalised options — for free.

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Average response time: under 1 business day.