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The Best Current Mortgage Rates in Ajax
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Today's Best Mortgage Rates in Ajax, Ontario
Evaluate Ajax’s best mortgage rates in one place. You can compare the most current mortgage rates and monthly payments from 175+ banks and lenders across Ontario.
Rates are based on an average mortgage of $500,000 and subject to change based on filter criteria.
Lender  | Insured | Insurable | Uninsured |
|---|---|---|---|
 nesto inc. | 3.40%  $2,470.03 / month | 3.50% $2,496.35 / month | 3.45% $2,483.17 / month |
 Mortgage Associates Ontario Inc. | 3.45% $2,483.17 / month | 3.60% $2,522.81 / month | 3.60% $2,522.81 / month |
 Mortgage Alliance | 3.50% $2,496.35 / month | 3.60% $2,522.81 / month | 3.60% $2,522.81 / month |
 Affinity Mortgage Solutions | 3.55% $2,509.57 / month | 3.45% $2,483.17 / month | 3.45% $2,483.17 / month |
 Pineapple Financial Inc – Kinetix Mortgages Team | 3.55% $2,509.57 / month | 3.65% $2,536.10 / month | 3.55% $2,509.57 / month |
 DUCA Financial | 3.89% $2,600.37 / month | 3.89% $2,600.37 / month | 3.89% $2,600.37 / month |
 Dominion Lending Centres | 3.9% $2,603.07 / month | 3.9% $2,603.07 / month | 3.9% $2,603.07 / month |
 Alterna Savings | 3.94% $2,613.86 / month | 3.94% $2,613.86 / month | 3.94% $2,613.86 / month |
 Copperfin Credit Union | 4.04% $2,640.95 / month | 4.04% $2,640.95 / month | 4.04% $2,640.95 / month |
 CIBC | 4.19% $2,681.85 / month | 4.19% $2,681.85 / month | 4.19% $2,681.85 / month |
 Healthcare and Municipal Employees' Credit Union | 4.19% $2,681.85 / month | 4.19% $2,681.85 / month | 4.19% $2,681.85 / month |
 Bayview Financial Services | 4.29% $2,709.29 / month | 4.29% $2,709.29 / month | 4.29% $2,709.29 / month |
 First National Financial | 4.3% $2,712.04 / month | 4.3% $2,712.04 / month | 4.3% $2,712.04 / month |
 Ganaraska Credit Union | 4.49% $2,764.59 / month | 4.49% $2,764.59 / month | 4.49% $2,764.59 / month |
 CMLS | 6.99% $3,498.99 / month | 6.99% $3,498.99 / month | 6.99% $3,498.99 / month |
Written By Shivani Kaul
Content manager
How much down payment do you need to buy a home in Ajax?
Using an $839,000 home in Ajax as an example, the minimum down payment would be approximately $58,900. This price is close to the average selling price in Ajax in May 2026.
Under Canadian minimum down payment requirements, you would need 5% on the first $500,000 and 10% on the portion above $500,000.
Minimum down payment: $25,000 on the first $500,000 + $33,900 on the remaining $339,000 = $58,900.
Down payment options on an $839,000 Ajax home
| Down payment | Amount | Mortgage amount* | Mortgage default insurance |
|---|---|---|---|
| Minimum required (~7%) | $58,900 | $780,100 | Required |
| 10% | $83,900 | $755,100 | Required |
| 20% | $167,800 | $671,200 | Not required |
*Mortgage amount shown before any mortgage default insurance premium is added.
If you put down less than 20% on an Ajax home, you'll typically need mortgage default insurance. The insurance protects the lender if you are unable to repay the mortgage, and the premium can usually be added to your mortgage balance.
On an $839,000 Ajax home, increasing your down payment from the minimum to 20% means putting an additional $108,900 upfront. In return, your mortgage before any insurance premium would fall from $780,100 to $671,200.
Read more: How much down payment do I need?
Compare fixed and variable mortgage rates by term in Ajax
Compare fixed and variable mortgage rates in Ajax across different terms using the Rates.ca Rate Matrix. See how rates vary by mortgage type, term and loan-to-value ratio to find an option that fits your needs.
Rates are based on an average mortgage of $500,000 and subject to change based on filter criteria.
Updated 21:57 on Oct 20, 2026| Placeholder | Insured The rates in this column apply to borrowers who have purchased mortgage default insurance. This is required when you purchase a home with less than a 20% down payment. The home must be owner-occupied and the amortization must be 25 years or less. | 80% LTV The rates in this column apply to mortgage amounts between 65.01% and 80% of the property value. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates. | 65% LTV The rates in this column apply to mortgage amounts that are 65% of the property value or less. The home must be owner-occupied and have an amortization of 25 years or less. You must have purchased it for less than $1 million. These rates are not available on refinances. Refinances require "Uninsured" rates. | Uninsured The rates in this column apply to purchases over $1 million, refinances and amortizations over 25 years. More info on the differences between insured and uninsured rates. | Bank Rate Bank Rate is the mortgage interest rate posted by the big banks in Canada. |
|---|---|---|---|---|---|
| 1-year fixed rate | 4.99% | 4.59% | 4.59% | 4.99% | 4.99%  |
| 2-years fixed rate | 3.99% | 4.14% | 4.14% | 4.44% | 4.53%  |
| 3-years fixed rate | 3.86% | 3.79% | 3.79% | 3.90% | 4.39% |
| 4-years fixed rate | 4.19% | 4.09% | 4.09% | 4.39% | 4.44% |
| 5-years fixed rate | 3.69% | 3.94% | 3.69% | 3.69% | 4.19% |
| 7-years fixed rate | 4.89% | 4.89% | 4.89% | 4.89% | 5.00%  |
| 10-years fixed rate | 5.24% | 5.24% | 5.24% | 5.24% | 6.09% |
| 3-years variable rate | 3.90% | 4.05% | 3.90% | 3.90% | 5.95%  |
| 5-years variable rate | 3.45% | 3.54% | 3.50% | 3.50% | 4.24%  |
| HELOC rate | N/A | N/A | N/A | N/A | N/A |
| Stress Test | 5.45% | 5.45% | 5.45% | 5.50% | N/A |
What should you know before getting a mortgage in Ajax?
Beyond your down payment, budget for additional closing costs. These are separate from your mortgage and are generally paid at or before closing.
- Land transfer tax: A one-time provincial tax based on the purchase price. Ajax buyers pay Ontario's provincial rate, with no additional municipal land transfer tax.
- Legal fees: Typically $1,500–$2,500 for a residential purchase.
- Home inspection: Typically $400–$600, depending on the property and inspection scope.
- Title insurance: Often $250–$400, depending on the property and coverage.
- Mortgage default insurance: Generally required when your down payment is below 20%. CMHC mortgage loan insurance can help eligible buyers qualify with a smaller down payment.
Estimated Ontario land transfer tax on an $839,000 Ajax home
| Purchase price portion | Rate | Tax |
|---|---|---|
| First $55,000 | 0.5% | $275 |
| $55,000–$250,000 | 1.0% | $1,950 |
| $250,000–$400,000 | 1.5% | $2,250 |
| $400,000–$839,000 | 2.0% | $8,780 |
| Total | $13,255 |
Ontario's land transfer tax rates apply based on the purchase price. Ajax buyers pay the provincial land transfer tax, with no additional municipal land transfer tax like the one charged in Toronto.
If you're a qualifying first-time homebuyer, you may be eligible for an Ontario land transfer tax refund of up to $4,000. On an $839,000 Ajax home, that could reduce the estimated tax from $13,255 to $9,255.
Read more: How much down payment do I need?
Should you choose a fixed or variable mortgage rate?
A fixed-rate mortgage keeps the same interest rate for the length of your term. A variable-rate mortgage changes when your lender's prime rate changes. Fixed gives you payment certainty. Variable can start lower, but your costs can rise.
The Bank of Canada's policy rate is 2.25%, unchanged at its September 2, 2026 announcement. Lenders use their prime rate, currently 4.45% at major banks, as the benchmark for variable-rate mortgages. Your actual rate is set as a discount or premium to prime, so it won't match the Bank of Canada rate. The next announcement is scheduled for October 28, 2026 and could affect prime and variable mortgage pricing.
For example, using the lowest 5-year insured rates in the Rate Matrix above:
| Comparison | Fixed mortgage | Variable mortgage |
|---|---|---|
| Starting mortgage rate | 3.69% | 3.45% |
| How the rate is set | Locked in when you sign | Prime (4.45%) minus 1.00% |
| What happens if the Bank of Canada raises rates? | Fixed rate stays at 3.69% for the term | Variable rate may increase |
| What happens if the Bank of Canada lowers rates? | Fixed rate stays at 3.69% for the term | Variable rate may decrease |
Rate change example
What if rates rise by 0.50%?
If the Bank of Canada raised its policy rate by 0.50 percentage points and lenders raised prime by the same amount, prime would go from 4.45% to 4.95%. A variable rate set at prime minus 1.00% would rise from 3.45% to about 3.95%.
The example below assumes a variable-rate mortgage with payments that adjust when the interest rate changes. With a fixed-payment variable mortgage, a rate increase may instead mean more of your payment goes toward interest and less toward paying down your mortgage.
On a $500,000 mortgage with a 25-year amortization, that is roughly $2,483 per month at 3.45% and $2,617 per month at 3.95%, about $134 more each month. The 3.69% fixed rate would stay at about $2,547 per month.
The variable-rate borrower could pay more if rates rise, but could also save money if rates stay low or fall. Fixed rates don't change during the term, but you may face a different rate at renewal.
Which one suits you?
- Fixed may suit you if you want predictable payments and have a tight monthly budget.
- Variable may suit you if you can handle payment changes and want to benefit if rates fall.
Learn more: Fixed vs. variable mortgages. Compare today's 5-year fixed and 5-year variable rates.
This example is for illustration only. Payments are estimates. Mortgage rates vary by lender, borrower, mortgage type and eligibility.
What happens when you renew your mortgage in Ajax?
When your mortgage term ends, you can renew with your current lender or switch to another lender. You don't have to accept the first renewal offer you receive. Start comparing a few months before your renewal date so you have time to review your options and negotiate.
- Stay with your current lender: Ask whether they can offer a better rate or payment options that suit your budget.
- Switch lenders: Compare rates, prepayment privileges and any fees involved in moving your mortgage.
- Refinance at renewal: If you want to borrow more or extend the time left to repay your mortgage, you'll generally need to requalify.
If you have an uninsured mortgage, you may be able to switch lenders at renewal without qualifying at OSFI's prescribed stress-test rate. An uninsured mortgage is one that does not have mortgage default insurance.
To qualify for the exemption, your mortgage must be an eligible stand-alone mortgage, rather than part of a combined mortgage and credit-line plan. You must also:
- Switch between federally regulated lenders.
- Keep the same remaining repayment period, known as your amortization.
- Avoid borrowing additional money, except for up to $3,000 to cover switching costs.
The new lender will still review your income, debts, credit history and ability to repay. Ask whether your mortgage qualifies for the OSFI stress-test exemption when comparing offers.
If you want to access equity by refinancing your Ajax home at renewal, your lender may require an updated appraisal or property valuation. The amount you can borrow will depend on your home's current value, your outstanding mortgage balance and your financial situation.
Read more: Mortgage Renewal Guide
How does mortgage refinancing work in Ajax?
Mortgage refinancing replaces your existing mortgage with a new one, usually to access home equity, consolidate debt, borrow for renovations or change your mortgage terms. In Canada, homeowners can generally refinance up to 80% of their home's appraised value, subject to lender qualification requirements. Learn more about how loan-to-value (LTV) affects refinancing.
Unlike a straight renewal, refinancing can increase your mortgage balance. You'll generally need to requalify for the new mortgage, and your lender may require a current appraisal or property valuation.
How much equity could you access from an Ajax home?
For illustration, consider an Ajax home valued at $839,000. At an 80% loan-to-value limit, the maximum mortgage would be about $671,200.
| Example | Amount |
|---|---|
| Current home value | $839,000 |
| 80% of home value | $671,200 |
| Existing mortgage balance | $500,000 |
| Potential additional borrowing | Up to $171,200 |
In this example, a homeowner with a $500,000 mortgage balance could potentially access up to $171,200 in additional borrowing through refinancing. The amount you actually qualify for will depend on your income, debts, credit profile, current mortgage balance, property value and lender requirements.
The $171,200 represents potential additional borrowing before any applicable mortgage penalties, legal fees, appraisal costs or other refinancing charges.
Considering refinancing? Compare mortgage rates in Ajax to see what rates are available.
Read more: Mortgage Refinancing Guide
Frequently asked questions about mortgages in Ajax, Ontario
Have more questions about Ajax mortgage rates? Find the answers here...
How much mortgage can I qualify for in Ajax?
Your qualifying amount depends on your income, your existing debts, your down payment and your credit history. Lenders measure how much of your income would go to housing costs and to total debt payments, and every extra monthly debt payment (car loan, credit card, line of credit) reduces the mortgage you can get. Federally regulated lenders must also test your finances at a higher "qualifying rate" than the one you'll actually pay. Under OSFI's stress test rules, that rate is the greater of your contract rate plus 2 percentage points or 5.25%. To get a realistic number before you start house hunting, ask for a pre-approval or use a mortgage affordability calculator.
What closing costs should I budget for when buying in Ajax?
Plan for roughly 1.5% to 4% of the purchase price on top of your down payment. The biggest cost is Ontario land transfer tax. Ajax doesn't charge a municipal land transfer tax, so you pay only the provincial amount. The other costs are legal fees, title insurance, a home inspection, an appraisal if your lender requires one, and property tax and utility adjustments on closing day.
If your down payment is under 20%, you'll also owe tax on your mortgage default insurance premium, which is due at closing even though the premium itself is added to your mortgage. First-time buyers may qualify for a refund of Ontario land transfer tax, which lowers the cash you need on closing day.
Which government programs can help me buy my first home in Ajax?
Several federal and provincial programs can reduce what you need to save or pay.
- First Home Savings Account (FHSA): Contributions are tax-deductible and qualifying withdrawals for a first home are tax-free. See the Canada Revenue Agency's FHSA page.
- Home Buyers' Plan (HBP): You can withdraw from your RRSP to buy a first home without paying tax on the withdrawal, then repay it over time.
- Ontario land transfer tax refund: First-time buyers can get a refund of part of the provincial tax.
Eligibility rules and limits change, so confirm the current details with the Canada Revenue Agency and the Ontario government before you rely on them.
What’s the difference between variable and fixed rate mortgages?
A fixed-rate mortgage keeps your interest rate the same throughout your mortgage term, while a variable-rate mortgage has an interest rate that can change with your lender’s prime rate. For buyers in Ajax, the choice depends on your budget, comfort with changing interest rates and plans for your home.
Variable-rate mortgages
With a variable-rate mortgage, your interest rate is typically set at a discount or premium to your lender’s prime rate. If prime changes, your mortgage interest rate generally changes too. How that affects your payments depends on the mortgage:
- Fixed payments: Your regular payment generally stays the same, but the amounts going toward interest and principal change. When rates rise, more of your payment goes toward interest and less toward paying down your mortgage. If rates rise enough, your lender may require a payment increase or other changes under your mortgage agreement.
- Adjustable payments: Your regular payment changes as your interest rate changes, generally rising when rates go up and falling when rates go down.
Before choosing a variable-rate mortgage, confirm which payment structure the lender offers and consider how a rate increase could affect your budget.
Fixed-rate mortgages
With a fixed-rate mortgage, your interest rate and regular principal-and-interest payment stay the same throughout the mortgage term. That predictability can make budgeting easier, although your property taxes and other homeownership costs may still change.
Your fixed rate applies for the mortgage term, not the entire time it takes to repay your mortgage. When the term ends, the rate and payment offered at renewal may be different.
Shivani Kaul, Content manager
Shivani is a Content Manager at Rates.ca, focusing on mortgages. She is an experienced communication and marketing professional who specializes in content strategy and SEO optimization. Shivani ensures that our written materials meet the highest standards of quality and relevance.
She holds a Digital Marketing Management certificate from the University of Toronto, a Business Communications certificate from the University of British Columbia, a Masters degree in Mass Communication from Symbiosis Institute of Media and Communications and a Bachelor's degree in English from the University of Delhi.
Shivani has previously worked as a deputy digital productions editor with PMNA-The Canadian Press, and as an editor with The Globe and Mail, Toronto Star, and the Investor's Digest of Canada. She has also worked in reputed news media groups in India and the Middle East.
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