Ontario mortgage help

Buying a home with a mortgage in Ontario

Start with a payment and total housing budget you can sustain. Keep closing costs and emergency savings separate from the down payment.

Reviewed August 31, 2026General information

What to do first

  1. Set a comfortable monthly housing budget before calculating a maximum purchase price.

  2. List the down payment, land transfer tax, legal costs, inspection, appraisal, moving, and immediate repairs.

  3. Review income, existing debts, credit, and the source of the down payment.

  4. Understand financing and property conditions before making an offer.

Important considerations

Pre-approval is not final approvalFinal approval can still depend on updated borrower information, documentation, the property, appraisal, and lender conditions.

Qualification is not a spending targetThe maximum a lender may approve can be higher than the payment that fits your household budget.

Include non-mortgage housing costsProperty tax, insurance, utilities, maintenance, and condominium fees can materially change affordability.

Official sources

Preparing to get a mortgageFinancial Consumer Agency of CanadaShopping for a mortgageFinancial Services Regulatory Authority of OntarioMortgage application processFinancial Services Regulatory Authority of Ontario

Related mortgage help

Renewing a mortgageCompare your renewal offer and switching options.Application declinedIdentify the barrier before applying again.Payment difficultiesOrganize your options before a payment is missed.