HB Mortgage Centre

Home Financing in Ontario

Financing a home purchase comes down to a few things: getting pre-approved, understanding what lenders look at, and knowing what you can comfortably plan for. We help buyers get mortgage-ready and move forward with confidence.

We are an FSRA-licensed Ontario mortgage brokerage, not a lender. We guide you through the financing process and shop your mortgage across lenders, subject to qualification.

Written by the HB Mortgage Centre team. Reviewed by Hardeep Batoo, Principal Broker (licence M13002408). HB Mortgage Centre is an FSRA-licensed brokerage (#13449). Last updated: June 23, 2026.

Get pre-approval guidance Call (647) 542-6100

FSRA Brokerage #13449Â·Hardeep Batoo, BrokerÂ·Ontario-wideÂ·No obligation

How it works

A starting point for every kind of buyer

Home financing is not one path. The right approach depends on who is buying and what they are buying, and this page is the hub that points you to the rest:

→First-time buyers. Programs, the deposit, and the steps, in one place. See the first-time home buyer guide.
→Self-employed buyers. Income that is harder to document, presented to the right lender. See the self-employed mortgages.
→Buyers with bruised credit. Options that still move you forward, with a plan. See the mortgage options with bad credit.
→Condo buyers. Condo fees factor into both your costs and your qualifying. Estimate with the See the condo mortgage calculator.
→Move-up and refinancing buyers. Restructure or step up when it makes sense. See the refinancing.

Wherever you start, the financing basics below apply.

We can help with

How we help buyers

We get you pre-approved, explain what to prepare, and shop your mortgage across lenders so you are not limited to one bank's products. That reach is real: more than 50 lenders, and over $1 billion in mortgage funding arranged since December 2021. Everything is subject to qualification and lender review. We do not guarantee approval or a specific budget.

First-time home purchases

Self-employed buyer files

Buyers with bruised or limited credit

Condo purchases

Move-up purchases

Mortgage refinancing

Pre-approval preparation

Lender comparison across 50+ lenders

How it works

What are the steps to finance a home in Ontario?

Talk to a broker and get pre-approved.

Shop with a realistic budget.

Find a property and submit the full application.

The lender reviews and approves, subject to conditions.

Close with your lawyer.

Pre-approval vs approval

How is a pre-approval different from a full approval?

A pre-approval is an early read on what you might borrow, based on your income, credit, and down payment. It is not a final commitment. Full approval comes once you have a specific property and the lender reviews the complete file.

Both are subject to qualification and lender review. A pre-approval helps you shop with a realistic budget.

Apply for pre-approval guidance →

What lenders look at

What do lenders look at in a mortgage application?

Lenders weigh your income and how it is documented, your credit, your down payment, the property and its use, and whether the mortgage is insured or uninsured. They also apply the mortgage stress test, which qualifies you at a higher rate than your actual rate to make sure you can handle changes. The qualifying rate is usually the greater of 5.25 percent or your contract rate plus 2 percent. (Source: OSFI.)

Affordability is more than the maximum a lender will offer. It is the payment you can comfortably carry alongside your other costs. Use our affordability, down payment, and payment calculators for an estimate. They are estimates, not approvals.

Try our mortgage affordability calculator

FAQ

Common questions about home financing

How does home financing work in Ontario?+

You get pre-approved, shop within a realistic budget, then submit a full application on a specific property for lender approval, subject to qualification.

What is the difference between pre-approval and approval?+

Pre-approval is an early estimate of what you might borrow; approval is the lender's decision on a specific property and complete file.

What do lenders look at?+

Income, credit, down payment, the property, insured vs uninsured status, and the stress test.

How much home can I afford?+

Use our calculators for an estimate, then talk to a broker. Affordability depends on qualification and your comfort level, not just the maximum offered.

What is the stress test?+

A rule that qualifies you at a higher rate than your actual rate, the higher of 5.25 percent or your contract rate plus 2 percent, to make sure you can handle a change in rates. (Source: OSFI B-20.)

Does it cost anything to use a broker for a purchase?+

On most standard purchase mortgages, the lender pays the broker, so our guidance and pre-approval work typically cost you nothing. If a file involves a fee, you see it in writing before you commit.

How fast can I get pre-approved?+

Often within a few business days once your documents are in, though timing varies by lender and how complete your file is.

Get mortgage-ready

The simplest next step is a short conversation. We will tell you where you stand, what to gather, and how to get pre-approval-ready, with no cost and no obligation.

What happens next: A short call to understand your situation, free and without pressure. Then we tell you exactly what documents to gather and submit your pre-approval. The same broker stays with your file through to closing. Pre-approval is an estimate, not a final approval.

Apply Call (647) 542-6100

Subject to qualification and lender approval. O.A.C. E.&O.E. FSRA #13449.

FSRA Brokerage #13449 Â· Hardeep Batoo, Broker Licence #M13002408 Â· Ontario-wide

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