3852 Finch Ave E #209, Scarborough, ON M1T 3T9, Canada
Brokerage #13763
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Brokerage #13763
Toronto mortgage rate the annual interest rate charged on a mortgage loan, expressed as a percentage. lendsimpl compares fixed and variable rates from 50+ banks, mono-line lenders, and credit unions to match you with the rate that fits your down payment, credit profile, and purchase price. FSRA Brokerage #13763.
Rates shown are starting points; your actual best rate depends on your file.
5.0 on GoogleFSRA Brokerage #13763Toronto & Ontario-wideTakes about 30 seconds · Free · No obligation
lendsimpl is an FSRA-licensed mortgage brokerage (Brokerage #13763). Rates shown are illustrative, not a quote, and your actual rate depends on your down payment, credit profile, purchase price and amortization. How fees work. On most A-lender residential mortgages the lender pays the broker, so there is usually no broker fee to you. If your file needs a B-lender or private lender, a broker fee applies and is disclosed in writing before you commit.
From your file to a locked rate, three steps.
Down payment, purchase price, amortization, and credit profile; the details that decide which rates you qualify for.
Banks, mono-line lenders, and credit unions compared side by side, insured and uninsured, fixed and variable.
Secure a rate hold and apply with the lender offering your best fit.
Compare 50+ lenders, banks, mono-line lenders, and credit unions, in one application
Rate holds of up to 120 days while you shop or wait to close
Insured and uninsured pricing reviewed side by side, not just a single headline rate
FSRA-licensed Brokerage #13763: all fees disclosed in writing before you proceed
Not sure which rate type fits your situation?
Tell us the situation; we'll tell you what's possible.
5.0 on Google
25 reviews
Multiple
Lender types compared for every Toronto rate request
6
Rate types compared: fixed, variable, and HELOC
Up to 120 days
Rate hold while you shop or wait to close
Insured vs. uninsured pricing, fixed vs. variable trade-offs, prepayment privileges, and break penalties, reviewed together, not just the lowest number you saw advertised. Every applicable fee is disclosed in writing before you proceed.
Start with your down payment, purchase price, amortization, and credit profile; these determine which lenders and rates you qualify for.
Toronto properties above typical insured thresholds often price differently, so we compare the rate impact before focusing on a single headline rate.
Rate alone isn't enough; we compare payment certainty, prepayment privileges, and break penalties before you choose a term.
Once the strongest option is clear, we secure a rate hold and submit your application before rates move again.
Predictable monthly payments and protection if rates rise, a strong fit for budget certainty. Trade-off: typically a higher rate than variable, and a larger IRD penalty if you break the term early.
A lower starting rate historically, a simpler 3-month interest penalty, and it benefits automatically from Bank of Canada rate cuts. Trade-off: your payment can change, and you carry the risk if the Bank of Canada raises rates.
Mortgages with less than 20% down (and under $1.5M purchase price) require CMHC, Sagen, or Canada Guaranty default insurance; and typically qualify for a lower rate because the lender's risk is insured. Uninsured mortgages (20%+ down, or refinances) price slightly higher, with a typical spread of 0.05–0.30%.
lendsimpl is a Financial Services Regulatory Authority of Ontario–licensed brokerage. Every mortgage agent is individually licensed.
Lock in today's rate while you shop or wait to close. If rates fall before closing, lendsimpl re-locks you at no charge.
Any lender, broker, legal, or appraisal fee that applies to your file is disclosed in writing before you proceed.
Your information is encrypted, handled with strict confidentiality, and shared only with the lenders relevant to your file.
5.0/5 average rating on Google
“Damien Atapattu made my mortgage process completely stress‑free. He prepared all documents ahead of time and clearly understands lender, lawyer, and appraisal requirements. A friendly, energetic professional who gets results.”
Aruna Bandaranayake
Google review · 5 mo ago
“Highly recommend! Damien took a lot of time to explain the terms thoroughly. He is very knowledgeable and trustworthy. Looking forward to working with him again!”
Tommy Ravindran
Google review · 6 mo ago
“Shamal was amazing throughout the whole process. He is very helpful, knowledgeable and patient. If you need a good reliable mortgage broker he is the guy! He will find you the best solution.”
Avy Loc
Google review · 7 mo ago
“Highly recommend. Damien was excellent throughout everything. Walking us through everything step by step. He was extremely well prepared and well versed in everything we needed to get a mortgage at a great rate.”
John Abraham
Google review · 7 mo ago
“I had a great experience working with Damien. He helped me secure a very competitive mortgage rate through Scotiabank and made the entire process smooth and stress-free. He was knowledgeable, transparent, and always quick to respond to my questions. I highly recommend him.”
Rz
Google review · 8 mo ago
“I approached lendsimpl for some financing and was amazed at the quality and time frame of service. Within a matter of days my deal was completed. Thanks to Damien and the team for expediting my business so efficiently. I highly recommend them for your financing needs. Five stars from us.”
Sunrise Meadows
Google review · 10 mo ago
Straight answers on fixed vs. variable, insured vs. uninsured, and where rates are headed; so you know exactly what to expect before you apply.
Have a question we didn't answer?
Our licensed broker team is happy to help.
The right rate for you depends on your down payment, credit score, purchase price, and amortization. Insured mortgages (under 20% down, purchase price under $1.5M) generally qualify for lower rates than uninsured ones. See the rate comparison on this page for current pricing.
No. Mortgage rates are set nationally by lenders, not by city. In Toronto, higher prices mean more purchases above the insured limit of $1.5M. Those are uninsured and can price slightly higher. Your rate is driven by your credit profile, down payment, amortization, and lender.
Fixed rates offer payment certainty. Variable rates can start lower but move with the lender's prime rate. The right choice depends on your risk tolerance, your financial buffer, and whether you may break the mortgage early: variable usually carries a simpler 3-month interest penalty, while fixed can carry a larger IRD.
Insured mortgages (under 20% down, purchase price under $1.5M) require default insurance from CMHC, Sagen, or Canada Guaranty and often price lower because the lender's risk is insured. Uninsured mortgages (20% or more down, or refinances) typically price somewhat higher. See the rate comparison above for current pricing.
Nobody can predict rates with certainty, and forecasts change often. What we can do is compare current options across 50+ lenders, explain how fixed and variable terms respond to rate changes, and use a rate hold of up to 120 days to protect you while you shop.
Still have questions?
No obligation, just answers.
From downtown Toronto to the GTA and across the province, lendsimpl compares mortgage rates wherever you're buying, renewing, or refinancing.
lendsimpl compares 50+ lenders, insured and uninsured, fixed and variable, to find your lowest available Toronto mortgage rate. Rate holds of up to 120 days. FSRA Brokerage #13763.
Hello: I look forward to connecting with you. Tell us a bit about your situation and we'll walk through your options.