Secure your dream home in Scarborough City with a tailored mortgage solution that fits your needs. Whether you’re a first-time homebuyer or looking to refinance, our mortgage options in Scarborough City are designed to offer flexibility and competitive rates. Discover a range of financing choices that cater to diverse financial situations, supported by our expert advisors who guide you through every step of the process. With a strong understanding of Scarborough’s real estate landscape, we ensure you receive personalized advice and efficient service. Take advantage of our comprehensive mortgage services to make informed decisions and achieve your homeownership goals in Scarborough City.


Exploring Mortgage Options in Scarborough: Your Guide to Finding the Right Fit

Looking to buy a home in Scarborough? Finding the right mortgage can make a big difference in your financial journey. Here’s a quick guide to help you explore the options and make the best choice for your future.

1. Fixed-Rate Mortgages
Best For: Homebuyers who prefer stability and predictability.
Why Choose It: With a fixed-rate mortgage, your interest rate remains the same throughout the term, so your payments won’t fluctuate. This can help you budget with confidence, knowing exactly what you’ll pay each month.

2. Variable-Rate Mortgages
Best For: Buyers willing to take some risk for potential savings.
Why Choose It: Variable rates fluctuate with market interest rates, which may result in lower payments if rates drop. However, your payments could increase if rates rise, so consider your risk tolerance.

3. High-Ratio Mortgages
Best For: Buyers with less than a 20% down payment.
Why Choose It: High-ratio mortgages are insured and allow you to get into the market with a smaller down payment. While mortgage insurance is required, this can be a valuable option for first-time buyers who want to secure a property sooner.

4. Open vs. Closed Mortgages
Open Mortgages: These allow extra payments or early payout without penalties—ideal if you expect a financial windfall.
Closed Mortgages: Typically have lower interest rates but may charge fees for early payouts.

5. Local Incentives & Programs
Scarborough homebuyers can benefit from Ontario’s First-Time Home Buyer Incentive, Land Transfer Tax Rebates, and Home Buyers’ Plan (HBP) for first-time buyers using RRSPs.

6. Seek Expert Advice
Talk to our mortgage advisor who understands the Scarborough market. We can help you navigate local lenders and special programs to find the best rates and terms.