Mortgage broker in Ottawa
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Get my rate →What does a mortgage cost in Ottawa right now?
A typical home in Ottawa costs around $680,000. With the federal minimum down payment of $43,000 and default insurance added, the mortgage comes to roughly $662,480 — about $3,535 a month at 4.14% over a 25-year amortization.
Ottawa's public-sector employment base makes income verification straightforward, and prices sit well below the GTA, so insured purchases with under 20% down are common.
- Typical Ottawa home price: about $680,000.
- Minimum down payment: $43,000.
- Estimated monthly payment at 4.14% over 25 years: $3,535.
- Estimated closing taxes and registration: $10,075.
The Ottawa numbers, line by line
- Benchmark purchase price
- $680,000
- Minimum down payment
- $43,000
- Mortgage before insurance
- $637,000
- Default insurance premium
- $25,480
- Total mortgage
- $662,480
- Monthly payment at 4.14%
- $3,535
- Land transfer tax (estimate)
- $10,075
Prices are rounded market estimates and payments exclude property tax, heat and condo fees. Run your own figures in the payment calculator or the land transfer tax calculator, and see today's Ontario rates.
What 8Twelve does for Ottawa borrowers
- Purchases and pre-approvals for Ottawa buyers, including new builds and condos.
- Renewals and lender switches at maturity — no penalty, and most lenders cover the legal costs.
- Refinancing and equity takeout for renovations, investments or tuition.
- Debt consolidation, rolling high-interest balances into one mortgage payment.
- Self-employed, new-to-Canada and rental-income files that a single bank's policy would turn down.
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Ottawa mortgage questions
How much do I need for a down payment in Ottawa?
On a $680,000 home in Ottawa — a typical price for the market — the federal minimum down payment is $43,000. That is 5% of the first $500,000 and 10% of the portion above it. Below 20% down the mortgage must be insured, which adds a premium of roughly $25,480 to the balance.
What are mortgage payments like in Ottawa?
At 4.14% over a 25-year amortization, a $680,000 purchase in Ottawa with the minimum down payment works out to roughly $3,535 a month in principal and interest. Property tax, heat and condo fees are on top of that.
How much is land transfer tax in Ottawa?
Ontario's land transfer tax works out to about $10,075 on a $680,000 purchase in Ottawa. First-time buyer rebates can reduce this where the province offers them.
Does 8Twelve have mortgage agents licensed in Ottawa?
Yes. 8Twelve Mortgage is licensed in Ontario and works with Ottawa homeowners and buyers across purchases, renewals, refinances and debt consolidation, with access to more than 65 lenders rather than a single bank's rate sheet.
Is a mortgage broker better than my bank in Ottawa?
A bank can only offer its own products. A broker shops the same application across banks, credit unions, monoline lenders and alternative lenders, then presents the best approval. For Ottawa borrowers with self-employment income, rental income or a thin credit file, that breadth is usually the difference between an approval and a decline.
More for Ottawa homeowners
Ottawa homeowners most often ask us about our mortgage refinance guide, switching lenders at renewal and paying off high-interest debt with home equity. Every city we cover is listed in the mortgage broker directory. Province-wide rules and pricing are on the Ontario mortgage brokers page.
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Learn moreBest available rate from 8Twelve's lender panel, subject to qualification and lender approval. OAC. Your rate depends on your individual financial situation.