Your Team of Trusted GTA and Toronto Mortgage Brokers
First home, dream home, or ready to make a move? The team at OwlMortgage.ca is here with many years of trusted experience to arrange a mortgage to secure your home and help you build wealth. We serve people from all across Ontario including the GTA, Toronto, North York, Oakville, Vaughan, Burlington, the Durham Region and all points in between.
GTA and Toronto Mortgage Services
We offer a wide variety of mortgage services to help you for most any mortgage or financing situation.
Getting some of the best mortgage rates in Toronto from OwlMortgages.ca
At OwlMortgage.ca, our team has access to some of the best mortgage lending rates in the Torointo area. That said there is much more to a great mortgage that suits your exact needs than just rates. We work with you to determine your exact needs and tailor things to what you need.
Trusted Toronto Mortgage Broker
Speed matters. Which is why we can determine if your approved quickly.
Transparency for all
We're big fans of the phrase, “what you see is what you get.” No hidden fees, no hidden meanings.
Built on Trust
We offer products and services designed to put our GTA clients first. Always.
GTA and Toronto Real Estate Numbers at a Glance
Toronto is Canada’s largest city. In many ways, it is the country’s financial, industrial, communications, media capital, and cultural capital. Toronto is the 4th largest city in North America after Mexico City, New York City, and Los Angeles.
The Greater Toronto Area includes 25 municipalities, including Durham, Halton, Peel, and York. Combined with Hamilton, it is called the Greater Toronto and Hamilton Area (GTHA), and combined with the Niagara region it is called the Golden Horseshoe, wrapping around the western end of Lake Ontario.
Toronto is one of the most ethnically diverse cities in the world. Over half the city’s residents are visible minorities, and nearly half were born outside of Canada.
- Population: approx. 2.79 million - the largest city in Canada and the fourth largest city in North America
- Average Home Price: approx. $1,125,928 In October of 2023
- Latest CREA Toronto Home Price Stats
- Latest CREA Toronto Housing Market Conditions
- Latest CREA Toronto Interest Rate Conditions
- Average Household Income: $65,829
- Percentage Homeowners: 53%
Closing Costs for people in Toronto
When applying for a new mortgage in Toronto, it is always important to be aware of the closing costs associated with property purchases. Most of these costs will need to be paid up front, so you will need to pay for them, in addition to your down payment for your home.
- Ontario Land Transfer Tax: Provincial land transfer taxes are collected by the Ontario government, and are between 0.5% - 2.0% of the purchase price.
- Toronto Land Transfer Tax: Unlike most cities, the City of Toronto charges its own land transfer tax on top of the provincial tax. This adds an additional 0.5 - 2.0%, depending on the purchase price.
- Mortgage Default Insurance and PST: If your mortgage is an insured mortgage, you'll need to pay for mortgage default insurance - this will normally be included as part of your mortgage. However, provincial sales tax (PST) on your premiums must be paid upfront. Ontario currently charges 8% PST on mortgage default insurance premiums.
First-Time Home Buyer Rebates for people in Toronto
In an effort to make it easier for first-time home buyers to buy property in Toronto, there are first-time home buyer rebates of land transfer taxes at both the provincial and municipal levels.
- The Ontario government will rebate up to $4,000 of provincial land transfer taxes for first-time home buyers.
- The City of Toronto will rebate up to $4,475 of the Toronto land transfer taxes for first-time home buyers.
If you’ve never bought a home before, you should also check out the other first-time home buyers programs in Canada.Start Your Journey