Best mortgage rates in Hamilton.
Today’s best rate in Hamilton is 3.44%. We compare Hamilton mortgage rates across 100+ Canadian lenders and lock your best on one application — no bureau pull to start.
The lowest rate on today’s board for Hamilton is 3.44%. On the average price of $738,025, 20% down and the best 5-year fixed come to about $3,151/month; the smallest legal down payment is $48,803, plus $11,236 of Ontario land transfer tax at closing. Strong investor market; multiplex and renovation financing in demand.
Meridian Credit Union Best5-year variable3.44%Apply Meridian Credit Union5-year variable3.44%Apply 
Radius Financial3-year variable3.55%Apply Radius Financial3-year variable3.55%Apply 
Marathon Mortgage Corp0.5-year fixed3.64%Apply Marathon Mortgage Corp0.5-year fixed3.64%Apply 
Desjardins5-year variable3.70%Apply 
TD Canada Trust3-year variable3.97%Apply Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Ontario rates →
Financing a $738,025 home in Hamilton
At this price Hamilton buyers can take the insured route: only the slice above $500,000 needs 10% down, which keeps the minimum near 7% of the price. Saving to 20% would take another $98,802 and removes the $27,569 premium.
On the 20%-down loan, variable is $222 a month cheaper than fixed today.
| At $738,025 | Minimum down | 20% down |
|---|---|---|
| Down payment | $48,803 | $147,605 |
| CMHC premium | $27,569 | None |
| Mortgage | $716,791 | $590,420 |
| Monthly, 5-yr fixed 4.14% | $3,825 | $3,151 |
| Monthly, 5-yr variable 3.44% | $3,556 | $2,929 |
| Stress-test payment at 6.14% | $4,646 | $3,827 |
25-year amortization, Canadian semi-annual compounding, best rates on today’s board. The stress test qualifies you at the greater of the contract rate plus 2 points or 5.25%. Illustrative, O.A.C. Model your own numbers in the payment calculator.
Land transfer tax on a Hamilton purchase
Hamilton is outside the City of Toronto, so only Ontario's land transfer tax applies — $11,236 on a $738,025 purchase.
At this price the first-time-buyer refund of up to $4,000 covers 36% of it, leaving $7,236 to pay.
All told, the minimum cash to close at this price — before legal fees, title insurance and adjustments — is about $60,039. Check other prices in the land transfer tax calculator.
The Hamilton market behind your rate
The $738,025 figure is Hamilton’s average price for August 2026 (the latest we have sourced), from City of Hamilton average sale price, Cornerstone Association of REALTORS (ITSO).
Our Hamilton guide works through the 3 questions that decide most files here:
- Hamilton is an investor market, and multiplex financing has a rule most buyers miss. More than most Ontario cities of its size, Hamilton's mortgage flow is driven by small-scale investors — duplex conversions in the lower city, purpose-built two- to four-unit properties, and renovation-and-hold files across the Durand and Stoney Creek stock.
- Renovation files, as-improved value, and Hamilton's older stock. The other half of Hamilton's investor activity is buying something that needs work, and that changes what the lender is lending against.
- An illustrative Hamilton file: owner-occupied changes everything. This is an illustrative composite built from the rules above — not a specific client, and not a promised outcome.
How Hamilton neighbourhoods change the file
All 7 pockets below are freehold-led, so the financing turns on the appraisal, rental suites and the age of the stock rather than a condo corporation.
Westdale
Century detached and semi beside the universityHeavy student rental demand makes a share of purchases here investment files, which carry a 20% minimum down payment and a rental offset rather than an income add-back. Century stock adds wiring and plumbing conditions on top.
Durand
Century detached, many converted to unitsConversions are the defining issue: a large house divided into units is underwritten as multi-unit under a different product, and an unregistered conversion can fail the appraisal. Heritage designation restricts alterations in parts of the pocket.
Stoney Creek
Post-war and newer detached subdivisionA broad, consistently priced band with deep comparables. Escarpment-adjacent lots can attract appraiser comment on slope and setback.
Ancaster
Executive detached, larger lotsThe upper band in the city, with files clustered around the $1.5M insured ceiling — above it, insurance is unavailable and 20% down is a legal minimum. Rural-edge properties may also carry private servicing.
Dundas
Heritage village detached in the valleyHeritage stock and designation restrictions narrow the appraiser's comparable set and limit alterations. Valley siting brings conservation-authority and flood-mapping questions into both the appraisal and the insurance binder.
Waterdown
Newer detached and townhouse subdivisionRecent build-out that finances like suburban Halton. Builder purchases dominate the newest streets, where the rate hold must reach final closing rather than the offer date.
Binbrook
Newer subdivision on the rural edgeServiced subdivision stock beside genuinely rural land. Just outside the serviced boundary, well and septic confirmations become closing conditions and the lender list narrows accordingly.
This page is the rate-shopping side. For pre-approval strategy, document help and a dedicated advisor, see our Hamilton mortgage broker page.
