How much is the Ontario Land Transfer Tax on a $1,000,000 home?

Approximately $16,475 on a $1M home (provincial LTT only). In Toronto add roughly another $16,475 in municipal LTT for a combined ~$32,950. First-time buyers can claim up to $4,000 provincial rebate (plus $4,475 Toronto if applicable).

Do I need a 20% down payment in Ontario?

No — 5% down works on purchases up to $500,000 of price; 10% on the portion between $500K and $1.5M; 20% above $1.5M. Below 20% means CMHC/Sagen/Canada Guaranty insurance, financed into the mortgage.

Which Ontario cities have the highest home prices?

Oakville (~$1.54M), Vaughan (~$1.42M), Richmond Hill (~$1.42M), Caledon (~$1.40M), Markham (~$1.29M), Burlington (~$1.18M), Toronto (~$1.15M). The GTA core dominates the top 10.

Are credit unions a good option in Ontario?

Yes — Ontario credit unions (Meridian, Alterna, DUCA, Tandia, FirstOntario) often qualify at contract rate (not stress-test rate) and price competitively for self-employed and rental-income files. We compare them on every applicable file.

OntarioLive ratesUpdated Jun 12, 2026

Ontario mortgage rates.

Canada's largest mortgage market — GTA price stratification, Big-6 + monoline dominance, and FSRA-licensed brokerages competing aggressively on rate.

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Purchase — Ontario

As of Jun 12, 2026

Lender

Term

Type

Rate

APR

Best-in-network

50+ lender panel · MSA

5-yr

Variable

4.04%Best

4.04%

Best-in-network

50+ lender panel · MSA

5-yr

Fixed

4.19%

Best-in-network

50+ lender panel · MSA

3-yr

Fixed

4.39%

Best-in-network

50+ lender panel · MSA

2-yr

Fixed

4.79%

Best-in-network

50+ lender panel · MSA

1-yr

Fixed

5.39%

Best-in-network

50+ lender panel · MSA

10-yr

Fixed

5.69%

Rates updated daily. O.A.C., E.&O.E.

Refinance — Ontario

As of Jun 12, 2026

Lender

Term

Type

Rate

APR

Best-in-network

50+ lender panel · MSA

5-yr

Variable

4.04%Best

4.04%

Best-in-network

50+ lender panel · MSA

5-yr

Fixed

4.19%

Best-in-network

50+ lender panel · MSA

3-yr

Fixed

4.39%

Best-in-network

50+ lender panel · MSA

2-yr

Fixed

4.79%

Best-in-network

50+ lender panel · MSA

1-yr

Fixed

5.39%

Best-in-network

50+ lender panel · MSA

10-yr

Fixed

5.69%

Rates updated daily. O.A.C., E.&O.E.

Renewal — Ontario

As of Jun 12, 2026

Lender

Term

Type

Rate

APR

Best-in-network

50+ lender panel · MSA

5-yr

Variable

4.04%Best

4.04%

Best-in-network

50+ lender panel · MSA

5-yr

Fixed

4.19%

Best-in-network

50+ lender panel · MSA

3-yr

Fixed

4.39%

Best-in-network

50+ lender panel · MSA

2-yr

Fixed

4.79%

Best-in-network

50+ lender panel · MSA

1-yr

Fixed

5.39%

Best-in-network

50+ lender panel · MSA

10-yr

Fixed

5.69%

Rates updated daily. O.A.C., E.&O.E.

HELOC — Ontario

As of Jun 12, 2026

Lender

Term

Type

Rate

APR

Best-in-network

50+ lender panel · MSA

0-yr

Variable

6.45%Best

6.45%

Rates updated daily. O.A.C., E.&O.E.

Benchmark price

$830,000

Ontario provincial average · 2026

Ontario Land Transfer Tax (LTT)

Tiered tax of 0.5%–2.5% on purchase price, calculated at closing on the entire amount.

First-time buyers can claim up to $4,000 in Ontario LTT rebate; Toronto purchases stack an additional municipal $4,475 FTHB rebate.

Toronto purchases pay BOTH Ontario LTT AND Toronto Municipal LTT — effectively doubling the closing cost on city properties.

Regulator

Financial Services Regulatory Authority (FSRA)

Official site →

Top Ontario lenders

TDRBCScotiabankMCAPFirst NationalEquitable Bank

Why Ontario rates work the way they do

Ontario has the deepest lender competition in Canada — every monoline (MCAP, First National, RFA, B2B Bank), every Big-6, and 25+ credit unions actively bid. This typically produces the sharpest discount-rate offers in the country.

Foreign-buyer rules: Non-Resident Speculation Tax (NRST) of 25% applies to foreign buyers province-wide; combined with the federal foreign-buyer ban (extended to 2027), foreign purchases are largely paused.

Mortgage brokers in Ontario

Same FSRA license, same 50+ lender network — applied to each Ontario market.

FAQ

Ontario mortgage rates — common questions.

Don’t see yours? Ask Maya — instant answer in 50+ languages.

Best discounted 5-year fixed rates in Ontario typically sit 0.10–0.20% below national averages because of lender competition. Variable rates track Prime minus a negotiated discount (currently ~Prime −0.85% to −1.05% for insured purchases).

Rates in other provinces

Same broker, every province — pick yours.

National rate table →

British Columbia Alberta Quebec Manitoba Saskatchewan Nova Scotia New Brunswick Newfoundland and Labrador Prince Edward Island

Lock in your best Ontario rate today.

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