Find the perfect mortgage rate for your home
Secure your dream home with our fixed or variable rate options, plus enjoy one year of home system repair protection on us.
3-year Fixed
4.69%
5-year Variable High Ratio
3.55%
3-year Fixed High Ratio
4.34%
Your path to home ownership starts here
Whether you’re buying your first home, renewing, or refinancing, a FirstOntario mortgage offers more than just a competitive rate.
90-day rate guarantee
Know that your pre‑approved rate won’t change while house hunting.
Prepayment options
Prepay up to 20% of your principal annually without penalty.
Payment flexibility
Choose weekly, bi-weekly, monthly, or accelerated payments.
Mortgage insurance
Protect yourself and your family with mortgage insurance at low rates.
Get one year of protection on us
With your new mortgage, you’ll receive coverage of up to $10,000 annually for eligible home system repairs through the Encompass Home System Warranty Program.
Flexible mortgage options designed for you
Stability with fixed-rate mortgages
If you prefer the peace of mind that comes with a predictable monthly payment, our fixed-rate mortgages are the ideal choice. We lock in your interest rate for the term of your mortgage, making budgeting straightforward and stress-free.
Flexibility with variable-rate mortgages
For those who want to take advantage of market conditions, our variable-rate mortgages offer flexibility. Your rate will change based on market fluctuations, which could potentially save you money when interest rates are low.
High ratio mortgages
If your down payment is less than 20% of the purchase price, a high ratio mortgage is available and is insured by a third party. This path allows you to secure a home with as little as 5% down, making the goal of owning a home more attainable sooner.
We take the time to help you fully understand the terms and guide you through every step of the mortgage application process.
Support for first-time home buyers
Home ownership is closer than you think. We’re here to help you take advantage of the First Home Savings Account (FHSA) and the Home Buyers’ Plan (HBP).
First Home Savings Account (FHSA)
Designed to help first-time home buyers save for a down payment, with tax-deductible contributions and tax-free withdrawals for eligible home purchases.
Home Buyers’ Plan (HBP)
A federal plan that allows first-time home buyers to withdraw funds from their RRSP to buy a home, with the flexibility to repay the amount over time.
Current mortgage rates
| Term | Rate* |
|---|---|
| 6-month convertible closed | 6.34% |
| 6-month open | 8.09% |
| 1-year closed | 5.54% |
| 1-year open | 8.09% |
| 2-year closed |
4.94% |
| 3-year closed | 4.69% |
| 4-year closed | 4.99% |
| 5-year closed | 4.79% |
| 7-year closed | 5.79% |
| 10-year closed | 5.99% |
| Term | Rate* |
|---|---|
| 5-year open | 5.95% |
| 5-year closed | 4.15% |
Ready to secure your mortgage?
We can help with your mortgage over the phone or online, and you can visit us in person at a branch.
Call us
at 1‑800‑616‑8878
Book an appointment
to meet with us virtually
Visit us
at one of our branches