Toronto Mortgage Rates
The real rate depends on your file — not a billboard.
Posted rates are starting points. The rate available to you depends on your credit, down payment, property type, occupancy, and the specific lender. A broker shops the market and shows you the actual rate you qualify for — fixed and variable.
Who this is best for
- Buyers comparing pre-approval offers
- Owners 4–6 months from renewal
- Anyone refinancing or breaking a mortgage
- Investors and self-employed owners with non-standard files
How a Toronto mortgage broker helps
- Pulls live pricing from 30+ Canadian lenders
- Quotes the real rate for your specific file — not a posted rate
- Explains the trade-offs (penalties, prepayment, portability)
- Holds the rate while you decide
What lenders typically look at
- Credit profile and inquiries
- Insured vs. insurable vs. uninsurable
- Owner-occupied vs. rental
- Property type and value
- Term, amortization, and prepayment features
Documents you'll likely need
- Photo ID
- Income proof
- Down payment / equity confirmation
- Current mortgage statement (for renewal/refi)
A Toronto example
Same buyer, three rates
An identical borrower can receive three different rates depending on whether the file is insured, insurable, or uninsurable. A broker models all three and shows the net cost over the term.
Frequently asked questions
+Why do brokers get better rates than the bank?
Brokers aggregate volume across many lenders, giving access to wholesale and broker-only pricing tiers.
+Should I take a fixed or variable rate?
Depends on your risk tolerance, timeline, and current spread. A broker models both for your specific file.
+How long can a rate be held?
Most lenders hold a rate for 90–120 days during an active home search or refinance.
+Do you publish rates on this site?
We don't post rates that may not apply to you. We quote the real rate after a quick review of your file.
Related
Displayed rates, if shown, are for informational purposes only and may change without notice. The rate available to an individual borrower depends on credit profile, income, down payment/equity, property type, loan-to-value, occupancy, lender guidelines, and other factors.