Mortgage Broker in Toronto
From downtown condos to family homes across Toronto, compare the full cost of a mortgage before you make a move.
A Toronto purchase can look very different from one neighbourhood to the next. A downtown condominium brings maintenance fees and a status certificate into the financing discussion; a freehold home can raise questions about renovations, rental space or appraisal value. Start with the type of home you want, the payment you can carry and the cash you will need on closing day.
Mortio can review a purchase, renewal or refinance against multiple lender options. We look at your income, existing debts, down payment and the property itself, then explain the rate, conditions, penalties and fees together. That matters in Toronto, where the land transfer tax is charged by both the province and the city.
August 2026 market snapshot
What homes sold for in Toronto
1,767 homes sold that month
Overall average sold price
$979,684
Across all home types sold in Toronto during August 2026.
Detached average sold price
$1,525,749
Freehold townhouse average sold price
$1,026,018
Condo apartment average sold price
$651,648
These are average sold prices from August 2026, not current asking prices or a valuation of any individual home. A property's price and financing depend on its condition, location and the details of your application.
Source: Toronto Regional Real Estate Board (TRREB), Market Watch, August 2026. View Market Watch archive
Plan a Toronto mortgage payment
We started with the August 2026 average sold price. Change it to your own budget, then adjust the down payment and rate. This is a planning estimate, not a rate quote or approval.
Purchase price
$979,684
Estimated monthly payment
$4,338
What this payment includes
Mortgage principal and interest over 25 years, using the illustrative rate you select.
Budget for these separately
- Property taxes and home insurance
- Condo fees and utilities, if applicable
- Land transfer tax and closing costs
- Mortgage default insurance, if required
With less than 20% down, a mortgage insurance premium may apply. This estimate does not calculate that premium or determine mortgage eligibility.
Down payment
Illustrative interest rate
- Down payment
- $195,937
- Mortgage amount
- $783,747
Assumes a 25-year amortization. See the payment breakdown for costs this estimate excludes.
Toronto in the 2021 Census
A longer view of the community behind today's housing market.
2021 Census of Population
Population
2,794,356
2021 Census
Population change
2.3%
2016 to 2021
Occupied homes
1,160,892
Private dwellings occupied by usual residents
Adapted from Statistics Canada, 2021 Population and dwelling counts. This does not constitute an endorsement by Statistics Canada of this product. These are census characteristics, not current property valuations.
What the numbers mean if you are financing here
Toronto-wide averages blend transactions across a very large and varied city. A condominium sale in Scarborough and a detached sale in Etobicoke can sit in the same overall figure even though they are different buying decisions. Use the property-type averages as a starting point, then enter a price that reflects the actual home you are considering.
Who is buying in Toronto
Toronto buyers often need to balance mortgage payment, condo fees, property taxes and transit or commuting costs. Homeowners renewing or refinancing should compare the total cost of changing lenders, including any penalty or legal work, before focusing on a headline rate.
Lender considerations in Toronto
Condo documentation, rental income, non-standard property layouts and larger loan amounts can all change lender requirements. Send the full property details early so the financing review does not depend on an assumption that later changes.
Mortgage help for Toronto
Our Markham-based team helps Toronto buyers and homeowners review purchase, renewal and refinance options by phone or online.
Land transfer tax in Toronto
Buyers in Toronto pay both the Ontario land transfer tax and a municipal land transfer tax.
Toronto buyers pay Ontario land transfer tax plus the City of Toronto municipal land transfer tax.
- 0.5% on the first $55,000
- 1.0% on $55,000.01 to $250,000
- 1.5% on $250,000.01 to $400,000
- 2.0% on $400,000.01 to $2,000,000
- 2.5% above $2,000,000 on one and two single-family residences
First-time buyers can claim a provincial rebate of up to $4,000, plus a municipal rebate of up to $4,475.
Toronto adds a municipal land transfer tax to the provincial tax. On a condo, also allow for status-certificate review and monthly fees; on a freehold home, leave room for inspection and repairs.
Neighbourhoods we finance in
Downtown
For a condo purchase, include maintenance fees in your monthly budget and obtain the status certificate early.
North York
Compare the total cost of a townhouse or detached home, including property tax and any planned work.
Scarborough
Older homes and added suites can call for extra appraisal or rental-income documentation.
Etobicoke
A move between condo and freehold ownership changes both monthly costs and closing requirements.
Toronto mortgage questions
The mortgage payment is only one line. Add maintenance fees, property taxes and insurance, and ask your lawyer to review the status certificate. A lender may also need to assess the building before confirming financing.
Nearby cities
Ready to see your Toronto options?
We compare multiple lender options and explain the trade-offs in plain language. No obligation, no credit check to start.