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Best Mortgage Rates in Scarborough
Like most sections of the GTA, Scarborough mortgage rates are competitive due to high real estate prices and proximity to Toronto. The following are the lowest rates from providers with offices in or near Scarborough. For mortgages in surrounding areas, search the best rates in Ontario.
Scarborough Mortgage Rates
City in Brief: Scarborough is a former municipality east of downtown Toronto, and is now part of the the City of Toronto. The area is bordered to the west by Victoria Park Avenue, Lake Ontario to the south, Little Rouge Creek to the east and Steeles Avenue to the north. The area is home to the Scarborough Bluffs, a striking line of cliffs that stretch 14 kilometres along Lake Ontario. The community is a popular place to settle among new immigrants due to its diversity and multicultural neighbourhoods.
Population: 632,098 (Source: StatsCan census, 2016)
Scarborough Average Home Price: $674,194 (as of June 2017; Source: CREA)
Home Price Change (year-over-year): 21.1%
Minimum Down Payment Scarborough: $42,419 (based on average home price)
* Note: This page lists lenders with branches in the city and mortgage brokers with registered offices in the city. For a full list of mortgage providers in the province, check the Best Mortgage Rates Ontario page. (Image source: Winthehumanrace.ca)