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Get Pre-Qualified for an Ontario Mortgage

See the price you could qualify for under today’s Ontario rules: the stress test, the minimum down payment, CMHC insurance and the 39% / 44% debt limits. It takes a minute and needs no sign-up. When you’re ready, a licensed Mortgage Squad advisor can turn it into a pre-approval.

Run my numbersApply / get pre-approved with Mortgage Squad (opens in a new tab)

Rules checked September 24, 2026. Mortgage Squad is an independent partner; Summitly may be compensated.

Rate Pulse: where can I qualify?

Move the sliders. Every number updates from the current federal and Ontario rules.

Car loans, credit cards, student loans, support payments.

Enough for a home up to $1,250,000 under the down-payment rule.

Rate and term

Bank of Canada conventional 5-year posted rate · as of October 21, 2026 · not an offer, OAC

Amortization

30 years needs 20% down, a first-time buyer, or a new build.

0.767% (2026 rate)

First-time buyer?
Credit score 600 or higher?
More details

Illustrative · not a pre-approval

You could qualify for up to

$647,000

Monthly payment
$3,661
$4,175 all-in
Stress-test rate
8.19%
Mortgage
$562,316
incl. CMHC premium
Housing costs (GDS)39.0% / 39% max
All debts (TDS)43.0% / 44% max
  • Down payment: meets the $39,700 minimum.
  • Stress test: qualifying payment $4,360/mo at 8.19%, actual $3,661/mo.
  • Insurance: CMHC premium 2.8% ($15,316) added to the loan, plus $1,225 Ontario PST at closing.
  • Amortization: 25 years.
Cash to close: $111,580 + legal and other costs
Down payment$100,000
Ontario land transfer tax$9,415
Toronto land transfer tax$9,415
First-time buyer refunds−$8,475
PST on CMHC premium$1,225

Add your quotes

Ask your lawyer, inspector and lender. Adjustments (prepaid tax, utilities) are settled by your lawyer at closing.

Turn this into a pre-approval

A licensed Mortgage Squad advisor compares lenders for you, at no cost to you.

Apply now with Mortgage Squad (opens in a new tab)

Mortgage rates over the last 12 months

The posted 5-year rate went from 6.09% to 6.19% (up 0.10 points). The lowest week was 6.09% and the highest 6.19%.

5.75%6.00%6.25%6.50%Oct 25Apr 26Oct 266.19%
Source: Bank of Canada, conventional 5-year mortgage rate (posted, series V80691335), weekly. Lenders' actual rates are usually lower than the posted rate.
Show as a table
Week ofRate
Oct 21, 20266.19%
Oct 14, 20266.19%
Oct 7, 20266.19%
Sep 30, 20266.09%
Sep 23, 20266.09%
Sep 16, 20266.09%
Sep 9, 20266.09%
Sep 2, 20266.09%
Aug 26, 20266.09%
Aug 19, 20266.09%
Aug 12, 20266.09%
Aug 5, 20266.09%
Jul 29, 20266.09%
Jul 22, 20266.09%
Jul 15, 20266.09%
Jul 8, 20266.09%
Jul 1, 20266.09%
Jun 24, 20266.09%
Jun 17, 20266.09%
Jun 10, 20266.09%
Jun 3, 20266.09%
May 27, 20266.09%
May 20, 20266.09%
May 13, 20266.09%
May 6, 20266.09%
Apr 29, 20266.09%
Apr 22, 20266.09%
Apr 15, 20266.09%
Apr 8, 20266.09%
Apr 1, 20266.09%
Mar 25, 20266.09%
Mar 18, 20266.09%
Mar 11, 20266.09%
Mar 4, 20266.09%
Feb 25, 20266.09%
Feb 18, 20266.09%
Feb 11, 20266.09%
Feb 4, 20266.09%
Jan 28, 20266.09%
Jan 21, 20266.09%
Jan 14, 20266.09%
Jan 7, 20266.09%
Dec 31, 20256.09%
Dec 24, 20256.09%
Dec 17, 20256.09%
Dec 10, 20256.09%
Dec 3, 20256.09%
Nov 26, 20256.09%
Nov 19, 20256.09%
Nov 12, 20256.09%
Nov 5, 20256.09%
Oct 29, 20256.09%
Oct 22, 20256.09%

From your numbers to a pre-approval

  1. 1

    Run your numbers

    Rate Pulse shows the price the rules allow and what it costs each month.

  2. 2

    Talk to an advisor

    A licensed Mortgage Squad advisor compares lenders and checks what you qualify for.

  3. 3

    Send your documents

    Income, down payment and ID. The lender checks your credit.

  4. 4

    Get your pre-approval

    Usually with a rate hold of 90 to 120 days, so you can shop with confidence.

Mortgage Squad Advisors

Mortgage advice from Mortgage SquadLicensed mortgage advisors compare lenders for you.

Apply / get pre-approved (opens in a new tab)Run your scenario

Mortgage Squad is an independent partner; Summitly may be compensated. Independent mortgage broker · OAC · rates subject to change and underwriting.

The rules Rate Pulse uses

RuleWhat it meansSource
Stress testYou must qualify at the greater of 5.25% or your rate + 2.Minimum qualifying rate for uninsured mortgages — OSFI
Minimum down payment5% of the first $500,000, 10% of the portion from $500,000 up to $1.5 million, and 20% on homes priced at $1.5 million or more.Down payment — Financial Consumer Agency of Canada
AmortizationWith less than 20% down (an insured mortgage) the maximum amortization is 25 years, or 30 years if you are a first-time buyer or buying a newly built home. With 20% or more down, the lender sets the maximum (30 years is common).Choosing a mortgage that's right for you — Financial Consumer Agency of Canada
Debt limitsHousing costs within 39% of gross income (GDS); all debts within 44% (TDS). Heat is counted at $100 a month and half of condo fees.Debt service ratios — CMHC
Mortgage insuranceUnder 20% down: a CMHC premium of 0.6–4% of the loan, plus 8% Ontario PST at closing. Needs a credit score of 600+.Mortgage loan insurance premiums — CMHC
Land transfer taxOntario tax on every purchase, plus Toronto's municipal tax in Toronto. First-time buyers get up to $4,000 and $4,475 back.Land transfer tax refunds for first-time homebuyers — Government of Ontario

Questions people ask

How much mortgage can I qualify for in Ontario?

Lenders test your payment at the stress-test rate: you must qualify at the greater of 5.25% or your contract rate plus 2 percentage points. Housing costs (payment, property tax, heat and half of condo fees) must stay within 39% of gross income, and all debts within 44%. Rate Pulse runs those rules on your numbers.

What is the minimum down payment in Ontario?

The minimum is 5% of the first $500,000, 10% of the portion from $500,000 up to $1.5 million, and 20% on homes priced at $1.5 million or more. With less than 20% down you need mortgage default insurance.

Is pre-qualification the same as a pre-approval?

No. Pre-qualification is an estimate from the numbers you enter. A pre-approval comes from a lender after it checks your credit, income and documents, and usually holds a rate for 90 to 120 days.

How long can my amortization be?

With less than 20% down (an insured mortgage) the maximum amortization is 25 years, or 30 years if you are a first-time buyer or buying a newly built home. With 20% or more down, the lender sets the maximum (30 years is common).

What does CMHC insurance cost?

It is a one-time premium of 0.6% to 4% of the loan, depending on your down payment. It is added to the mortgage, and in Ontario 8% PST on the premium is paid in cash at closing. Homes priced at $1,500,000 or more cannot be insured.

Are first-time buyers in Ontario eligible for land transfer tax refunds?

Yes. Ontario refunds up to $4,000 of its land transfer tax, and Toronto refunds up to $4,475 of its municipal tax. Rate Pulse includes both in cash to close.

Rate Pulse is an illustration from the numbers you enter and published rules. It is not a pre-approval, a commitment to lend or financial advice. Rates are not offers and are subject to approval (OAC). Mortgage services are provided by Mortgage Squad, an independent mortgage brokerage.