1-year fixed
4.94%Illustrative reference • not a lender quoteAsk about eligibility ↗Condo finance insights · Toronto & GTA
Condo mortgage decisions, made clearer.
Buying a condo, renewing, or exploring equity? Compare mortgage rate scenarios, estimate income needs and speak directly with Niraj Thakor.
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Mortgage rate planning
Explore fixed and variable mortgage rates
The following exact reference figures are the figures previously provided by the website owner. They are not verified current CIBC rates, offers or rate holds. Rate eligibility depends on the lender, insurance status, property, loan amount and other conditions.
2-year fixed
4.69%Illustrative reference • not a lender quoteAsk about eligibility ↗3-year fixed
4.54%Illustrative reference • not a lender quoteAsk about eligibility ↗4-year fixed
4.69%Illustrative reference • not a lender quoteAsk about eligibility ↗5-year fixed
4.84%Illustrative reference • not a lender quoteAsk about eligibility ↗7-year fixed
4.85%Illustrative reference • not a lender quoteAsk about eligibility ↗10-year fixed
5.05%Illustrative reference • not a lender quoteAsk about eligibility ↗3-year variable
3.85%Illustrative reference • not a lender quoteAsk about eligibility ↗5-year variable
3.85%Illustrative reference • not a lender quoteAsk about eligibility ↗Prime rate reference: 4.70% · HELOC planning example: Prime + 1.00%
Discuss HELOC optionsUsing the 4.70% Prime reference, Prime + 1.00% equals 5.70% annually. Prime reference provided by the site owner on October 29, 2026; the margin is an illustration, not an approved HELOC offer. Confirm today's lender prime rate and charges.
Illustrative comparison figures supplied by the owner; not a quote, APR, guarantee or commitment. A lender's applicable rate, APR, fees, eligibility and loan terms must be confirmed prior to advertising these as available offers. The 4.70% prime reference was provided by the site owner on October 29, 2026; confirm the applicable lender’s current prime rate before relying on it.
Condo affordability
Estimate your monthly cost and income needs
Explore condo payments, GDS/TDS planning limits and indicative Ontario closing costs. Use real figures from your own scenario; outputs are approximations, not qualification decisions.
Condo mortgage estimator
Estimated monthly principal + interest—
Stress-test qualifying rate—
Approx. required annual income*—
Estimated Ontario land transfer tax*—
Indicative Toronto municipal tax*—
*Conservative planning estimates using illustrative 39% GDS / 44% TDS, half condo fees, no rental-income offset and the greater of contract + 2% or 5.25%. Taxes are gross illustrative estimates before rebates and include bracket assumptions through the provided purchase price; actual closing costs vary. No default mortgage insurance included.
Condo-specific considerations
Look beyond the mortgage rate
First-time condo buyers
Ask about down-payment programs, closing costs, mortgage insurance and the occupancy timeline for new developments.
Pre-construction condos
Plan for development closing, appraised value changes and your financing window before the final closing date.
Condo investors
Review rental income treatment, debt-service qualification, fees and specific lending criteria for investment units.
Offers and incentives
Ask about a potential $6,500 cashback incentive*
Ask whether a purchase, transfer or renewal promotion may be available for eligible condo financing. Promotional programs are lender-specific and may not apply to every property.
*The $6,500 cashback amount is an inquiry reference only—not a verified, available or guaranteed offer. Eligibility, lender approval and written terms must be confirmed before relying on any promotion.
Client experiences
What mortgage clients say about Niraj
Five reviews of Niraj Thakor's mortgage advisory service, transcribed from Google review screenshots provided by the site owner. These are not reviews of this particular website.
S
Selvina RagawoodooGoogle review screenshot · 4 years ago
★★★★★
Thank you Niraj for your careful planning and good advices. All our requests for our mortgage renewal were taken care of . We really appreciate your attention to our financing. You were extremely patience and reliable. I will certainly recommend your service to anyone I know who needs a mortgage.
N
Nikum SitwalaGoogle review screenshot · a year ago
★★★★★
Prompt, efficient and precise execution as well as communication. Tremendous work ethic and dedication. Overall excellent and smooth experience throughout the application process.
S
Sarthak SharmaGoogle review screenshot · 4 years ago
★★★★★
Really great service . Niraj is super helpful and prompt. Highly recommended
S
Sukhvir BrarGoogle review screenshot · a year ago
★★★★★
Very Helpful, knowledgeable, fast acting.
C
Cecilia OlaGoogle review screenshot · a year ago
★★★★★
Niraj is a reliable and experienced mortgage broker. I am very satisfied with what I experienced when refinancing my mortgage. I'll not hesitate to introduce him to my friends and neighbors.
Review age descriptions reflect the supplied screenshots; comments are individual experiences, not guaranteed outcomes. View Google reviews ↗
Frequently asked questions
Clear answers before your next step
Are mortgage rates the same for condos and houses?
Mortgage eligibility and pricing depend on the borrower, product and property. A lender may also assess condo fees, building condition and project eligibility.
Do condo fees affect mortgage affordability?
Many lenders include a portion of monthly condo fees in debt-service calculations. Confirm the method used for your application.
How much down payment do I need for a condo?
Minimum down payments depend on purchase price and mortgage insurance eligibility. Investors and certain property types may require larger down payments.
What about pre-construction condo mortgages?
Review the occupancy versus final-closing timeline, valuation risk, down-payment schedule and mortgage qualification well before final closing.
Can I refinance an investment condo?
Potentially. Rental income treatment, loan-to-value constraints and lender requirements vary; a customized assessment is necessary.
Questions about your condo mortgage?
A quick conversation can clarify your next step without completing an online lead form.