Mortgage services in Toronto
We map out your down payment using the FHSA, the RRSP Home Buyers' Plan and Ontario's land transfer tax refund, then compare insured rates from many lenders so your first home in Toronto starts on the right payment.
Your renewal letter is a starting offer, not the final word. We shop your Toronto renewal with other lenders 120 days before maturity, and switching at renewal usually needs no new stress test for a straight switch.
Pull equity out of your Toronto home for renovations, debt consolidation or an investment, up to 80% of the home's value. We weigh the penalty to break your current mortgage against the savings before you commit.
Contractors, trades, tech consultants and small business owners in Toronto often show low taxable income on paper. We work with lenders that look at business revenue, bank statements and two-year averages.
Newcomers working at Toronto-area universities, hospitals and tech firms can qualify with limited Canadian credit history. Some programs allow 5% down with a job offer and work permit.
Student rentals near campus, duplexes and legal secondary suites are common in Toronto. We structure rental income, down payment and lender choice so one property does not block the next.
A home equity line of credit gives Toronto homeowners flexible access to up to 65% of their home's value as a revolving line, with interest charged only on what you use.
Bruised credit, a consumer proposal or unusual income does not have to stop you. We arrange short-term private and alternative (B-lender) mortgages in Toronto with a clear plan to move back to a bank rate. Broker fees apply and are disclosed upfront.
Mixed-use buildings, small multi-residential, industrial units and owner-occupied business premises across Toronto and Waterloo Region.
Toronto neighbourhoods and what they mean for your mortgage
Downtown core, CityPlace & Liberty Village
Toronto has one of the largest condo markets in North America, and many first-time buyers start here. Lenders look closely at condo fees, unit size and the status certificate. Very small units can be declined by some lenders, so matching the unit to the right lender before you firm up is important.
The Annex, Leslieville & the Danforth
Older semis and row houses dominate these established areas. Many have basement apartments or laneway suites. Lenders can count part of the rental income from a legal secondary suite, and a purchase-plus-improvements mortgage can fund renovations at closing.
North York & Willowdale
Condos along the Yonge subway line and detached homes on larger lots attract newcomers, families and downsizers. Buyers moving up from a condo often need bridge financing or a ported mortgage to avoid a penalty on their existing loan.
Etobicoke & Mimico
Waterfront condos at Humber Bay and bungalows further north give Etobicoke a wide price range. Older bungalows are frequent renovation and refinance candidates, where a HELOC or refinance can unlock equity for an addition or suite.
Scarborough
Scarborough offers some of the more accessible detached and semi-detached prices in the city, plus growing condo nodes near the subway extension. Multi-generational households are common, and lenders differ on how they treat co-signers and combined family income.
The Toronto market
Toronto is Canada's largest housing market and its most varied: micro-condos, century semis, suburban detached homes and multi-unit investment properties all sit within city limits. That variety is why lender choice matters so much here; a lender that is excellent for a downtown condo may be a poor fit for a rental triplex in the east end.
For current local prices and sales activity, the most reliable source is the Toronto Regional Real Estate Board (TRREB), which publishes monthly market reports by municipality and community. We use that data, not guesses, when we talk about local prices with clients.
Toronto is the only city in Ontario with its own municipal land transfer tax on top of the provincial tax. First-time buyers can claim rebates on both, which can make a meaningful difference to closing costs. We include both taxes in your closing-cost estimate from the first call.
Local employers and your income
Toronto borrowers work in banking, insurance, tech, health care, government, the trades and the gig economy. Bonuses, commission, stock compensation, contract roles and probation periods are each treated differently by lenders. Self-employed professionals and incorporated contractors often qualify better with lenders that use stated-income or two-year averaging, which is where a broker earns their keep.
How working with Jay works
- A free 30-minute call to understand your goals, timeline and budget.
- One secure application. We review your credit and documents once.
- We compare lenders and send you a written side-by-side of rate, prepayment options and penalties.
- Pre-approval with a rate hold, then full approval once you have an accepted offer.
- We coordinate the lender, appraisal and your lawyer through to closing, then review your mortgage again before renewal.
Area served
Toronto mortgage FAQs
Does it cost anything to use a mortgage broker?
For most standard residential mortgages with good credit, there is no fee to you; the lender pays the broker. Private and some alternative mortgages carry a broker fee that is always disclosed in writing before you commit.
Do I pay two land transfer taxes in Toronto?
Yes. Homes in the City of Toronto pay both the Ontario land transfer tax and the Toronto municipal land transfer tax. Eligible first-time buyers can receive rebates on both; your lawyer applies them at closing.
Can I buy a small Toronto condo with 5% down?
Often yes, if the price qualifies and you pass the stress test. Some lenders set a minimum unit size or decline certain buildings, so we check the building and unit with the lender before you remove conditions.
Can rental income from a basement suite help me qualify?
Yes, if the suite is legal or meets the lender's rules. Lenders typically add a portion of the rent to your income or offset it against the property's costs.
How early should I start my Toronto renewal?
About 120 days before maturity. Many lenders hold a rate for up to 120 days (OAC), which protects you if rates rise while still allowing a lower rate if they fall.
Can you help if I am self-employed or new to Canada?
Yes. We work with lenders that accept business bank statements and two-year income averages, and with newcomer programs designed for limited Canadian credit history.
Toronto mortgage guides
More guides coming soon
Also serving: Mississauga · Brampton · Markham · Vaughan · Oakville · Kitchener · Waterloo · Cambridge · Guelph
Straight answers, no cost and no obligation for most standard mortgages.
Mortgage Kraft · Affinity Mortgage Solutions Inc., Brokerage #13093 · Jay Shah, Licensed Mortgage Broker, Lic. #M22002236 · Rates and examples OAC, subject to change. Not financial advice.
