Best mortgage rates in Ottawa.
Today’s best rate in Ottawa is 3.00%. We compare 100+ lenders and lock your best on one application. No credit pull to start.
What will a mortgage cost in Ottawa?
On the average price of $688,253, 20% down and the best 5-year fixed come to about $2,938/month. The smallest legal down payment is $43,826, plus $10,240 of Ontario land transfer tax at closing. Stable government-employee borrower base; strong renewal-shopping volume.
Who has the best mortgage rate in Ottawa?
Marathon Mortgage Corp, at 3.00%. Your own rate depends on your file.
Marathon Mortgage Corp Best5-year variable3.00%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 →
What would my payment be on a $688,253 home in Ottawa?
About $2,938/month with 20% down at the best 5-year fixed, or $3,576/month with the minimum down.
| At $688,253 | Minimum down | 20% down |
|---|---|---|
| Down payment | $43,826 | $137,651 |
| CMHC premium | $25,777 | None |
| Mortgage | $670,204 | $550,602 |
| Monthly, 5-yr fixed 4.14% | $3,576 | $2,938 |
| Monthly, 5-yr variable 3.00% | $3,172 | $2,606 |
| Stress-test payment at 6.14% | $4,344 | $3,569 |
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.
How we worked out a $688,253 Ottawa purchase
At this price Ottawa buyers can take the insured route: only the slice above $500,000 needs 10% down, which keeps the minimum near 6% of the price. Saving to 20% would take another $93,825 and removes the $25,777 premium.
On the 20%-down loan, variable is $332 a month cheaper than fixed today.
How much land transfer tax is on an Ottawa purchase?
About $10,240 of Ontario land transfer tax on $688,253. All told, the minimum cash to close at this price — before legal fees, title insurance and adjustments — is about $54,066.
Land transfer tax on an Ottawa purchase, explained
Ottawa is outside the City of Toronto, so only Ontario's land transfer tax applies — $10,240 on a $688,253 purchase.
At this price the first-time-buyer refund of up to $4,000 covers 39% of it, leaving $6,240 to pay.
Check other prices in the land transfer tax calculator.
What is the Ottawa market like behind your rate?
The $688,253 figure is Ottawa’s average price for August 2026 (the latest we have sourced), from Ottawa average residential sale price, Ottawa Real Estate Board.
Our Ottawa guide works through the 3 questions that decide most files here:
- Federal employment is easy to underwrite — until the appointment type isn't permanent. Ottawa's large federal workforce gives lenders exactly what they like: stable, documentable, verifiable income.
- One land transfer tax in Ottawa, a different tax across the river. Ottawa charges no municipal land transfer tax.
- An illustrative Ottawa file: the letter of employment that raised a question. This is an illustrative composite built from the rules above — not a specific client, and not a guaranteed outcome.
How do Ottawa neighbourhoods change the file?
The 7 pockets below mix freehold and condo stock, and each one triggers a different underwriting rule.
Ottawa neighbourhoods, one by one (7)
Centretown
High-rise condo and older converted stockCondo files are underwritten with the corporation — reserve-fund adequacy, special assessments and rental share each move the lender list. Older converted houses nearby raise unregistered-conversion risk on the appraisal.
Westboro
Infill detached and newer low-rise condoHeavy teardown-and-rebuild activity puts original bungalows beside new custom builds, which makes comparables genuinely hard and raises the cost of waiving a financing condition. A teardown purchase is a construction file.
Glebe
Century detached and semi, heritage characterCharacter stock with a restricted comparable set and long owner tenure, so refinance and HELOC work is common here. Values in parts of the pocket clear the $1.5M insured ceiling, where 20% down becomes the legal minimum.
Barrhaven
Newer detached and townhouse subdivisionOne of the city's largest recent build-outs. Builder purchases dominate, and the rate hold has to reach the final closing date rather than the offer date.
Kanata
Planned subdivision beside the technology employment beltUniform 1980s–2000s stock with clean comparables, and a rental market fed by the technology employers along the March Road corridor.
Orléans
Suburban detached and townhouse, francophone east endBroad, consistently insurable suburban stock. Secondary suites are common in the newer sections and the rent only counts once the suite is legal and permitted.
Stittsville
Newer detached subdivision on the western edgeRecent build-out that finances conventionally, with rural-edge properties just beyond it where well and septic confirmations become funding conditions.
This page is the rate-shopping side. For pre-approval strategy, document help and a dedicated advisor, see our Ottawa mortgage broker page.
Ottawa mortgage rates — FAQ
What is the best mortgage rate in Ottawa right now?
The best rate in our 100+ lender network for Ottawa (Ontario) is approximately 3.00% as of Oct 24, 2026. Your own rate depends on your file — income, credit, loan-to-value and property type.
What land transfer tax will I pay in Ottawa?
Ontario's tax only: $10,240 on $688,253, or $6,240 for a first-time buyer.
Which Ottawa neighbourhoods run into the $1.5M insurance ceiling?
Our neighbourhood notes flag Glebe. Above $1,500,000 default insurance is unavailable and 20% down is the minimum.
Can I lock an Ottawa rate before I buy?
Yes — most lenders hold a pre-approval rate for 90-120 days, and many honour a lower rate if rates drop before closing.
Lock your best Ottawa rate.
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