Verified Professionals
Purchase Mortgage
A purchase mortgage helps Canadian homebuyers finance the purchase of a property. Compare purchase mortgage options across Canada to find terms that fit your budget and goals.
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Need help with a home purchase?
Compare licensed mortgage professionals who can guide you through rates, approvals, and next steps.
Compare lender options
Understand affordability
Review current rates
Get expert guidance
How it works
A simple process to explore purchase mortgage options and understand how they work.
What are you looking for?
Tell us about the property you want to buy, your budget, and timeline. This helps us understand the type of purchase mortgage support you’re looking for.
01
Get customised options"
We’ll connect you with licensed mortgage professionals who can provide tailored purchase mortgage options based on your situation.
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Choose your professional
Compare experience, ask questions, and select the mortgage professional that best fits your needs and home buying timeline.
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Popular Cities
Browse hyper-local insights and trusted providers in your neighbourhood.
Toronto
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Ottawa
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Mississauga
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Brampton
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Hamilton
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London
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Markham
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Vaughan
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Kitchener
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Windsor
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Burlington
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Oshawa
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Barrie
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Guelph
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Kingston
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Milton
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Oakville
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Richmond-hill
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St-catharines
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Cambridge
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Whitby
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Ajax
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Vancouver
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Surrey
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Burnaby
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Richmond
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Victoria
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Kelowna
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Abbotsford
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Coquitlam
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Calgary
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Edmonton
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Red-deer
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Lethbridge
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Montreal
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Quebec-city
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Laval
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Gatineau
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Longueuil
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Sherbrooke
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Saguenay
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Trois-rivieres
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Winnipeg
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Saskatoon
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Regina
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Halifax
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Moncton
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Saint-john
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Fredericton
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St-johns
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Charlottetown
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Popular Regions
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Alberta
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British Columbia
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Manitoba
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New Brunswick
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Newfoundland and Labrador
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Nova Scotia
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Ontario
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Prince Edward Island
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Quebec
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Saskatchewan
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Northwest Territories
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Nunavut
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Yukon
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Buying with confidence
What to know
A purchase mortgage is used to finance the purchase of a home or property. The amount you can borrow depends on factors like income, credit history, down payment, and the property itself. Understanding these factors early can help you plan with more confidence.
Mortgage options can vary widely between lenders. Rates, terms, payment flexibility, and approval conditions may differ, which is why many buyers choose to compare options before committing. A clear comparison can help you understand what fits your budget.
Working with a mortgage professional can help you navigate pre-approvals, lender requirements, and timelines. They can explain how offers, conditions, and closing dates affect your mortgage, helping you make informed decisions during the buying process.
Pro Tip
Getting pre-approved can help you understand your budget before making an offer.
More lender choice
Many buyers start with their bank, but purchase mortgages are available through a wide range of lenders. Each lender may offer different rates, terms, and features such as fixed or variable options. Comparing lenders helps you see the full picture and understand trade-offs between payment stability and flexibility. A broader comparison can help you choose a mortgage that fits your financial comfort level and long-term plans.
Plan for the full cost
Buying a home involves more than just the purchase price. Closing costs, property taxes, insurance, and ongoing payments all play a role. Understanding these costs early helps prevent surprises and supports better budgeting. A mortgage professional can explain how these factors affect your monthly payments and overall affordability.
How Purchase Mortgages Work in Canada: A Complete Homebuyer Guide
Learn how purchase mortgages work in Canada and what homebuyers should expect.
Livin2
Jan 8, 2026
Professional spotlight
Licensed Advisor
Northway Home Financing
Northway Home Financing helps buyers understand purchase mortgage options with clear guidance and practical support.
The team works with multiple lenders across Canada, helping homebuyers compare mortgage options, approval requirements, and timelines.
Their advisors focus on clear explanations, helping buyers understand affordability, down payments, and mortgage terms before committing.
When should I apply for a purchase mortgage?
Many buyers start with a pre-approval before shopping for a home. This helps you understand your budget and shows sellers you are prepared.
How much down payment do I need?
Down payment requirements vary based on purchase price and lender rules. A mortgage professional can explain minimum requirements and options.
Does getting pre-approved lock my rate?
Typical purchase costs
Last updated: 1/8/2026
Region
Great Value
Average
Premium
Canada
C$0
C$500
C$2,000+
Costs vary based on lender, property price, and purchase structure.
Reviews
4.8
based on 21300 reviews
Clear guidance95%
Easy process97%
Would recommend94%
"The process was easy to follow and helped me understand what I could afford before making an offer."
Mark T.18 Dec 2025
"Comparing options helped me feel more confident when buying my first home."
Emily S.02 Nov 2025
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Service Guide
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Learn what mortgage options are available to first-time homebuyers in Canada and how they work.
Read guideHow Purchase Mortgages Work in Canada: A Complete Homebuyer Guide
Learn how purchase mortgages work in Canada and what homebuyers should expect.
Read guide
Pricing Guides
Understand costs, fees, and factors that affect pricing.
Total Cost of Homeownership: What Your Mortgage Payment Doesn’t Include
Learn what costs come with homeownership beyond your monthly mortgage payment.
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Is Buying Now Worth the Cost? Renting vs Buying Cost Comparison
Learn how the costs of renting and buying compare and how to evaluate which makes sense.
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Fixed vs Variable Mortgage Rates: Which Costs Less Over Time?
Learn how fixed and variable mortgage rates compare and how each affects long-term cost.
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Mortgage Payment Examples by Home Price and Down Payment
Learn how mortgage payments change based on home price and down payment size.
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How Much Does a Purchase Mortgage Cost? Rates, Fees & Closing Costs
Learn what a purchase mortgage really costs, including rates, fees, and closing expenses.
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Purchase Mortgage Rates in Canada: What Homebuyers Should Expect
Learn how purchase mortgage rates work in Canada and what homebuyers should expect.
Read guide
Start your home purchase
Compare purchase mortgage professionals and explore your options before you buy.
Q&A
Common questions about purchase mortgages
A purchase mortgage is used to finance the purchase of a home. It helps buyers spread the cost of the property over time through regular payments.