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Ottawa · City of Ottawa

Mortgages in Ottawa, compared across lenders

We compare banks, credit unions and monoline lenders for your Ottawa purchase, renewal or refinance, and explain the trade-offs in plain English.

We help Ottawa households buy, renew and refinance by comparing banks, credit unions, trust companies and monoline lenders, working by phone and online. In September 2026 the median Ottawa sale was $625,000, across 1,010 sales (Ottawa Real Estate Board, checked October 2026). Every mortgage is subject to lender approval; we arrange mortgages for properties in Ontario only.

Ottawa in numbers

These are the latest published figures we could check for Ottawa, each with its source and date. They describe the market, not your mortgage.

Home sales, September 2026

Median sale price
$625,000
Average sale price
$685,640
Sales
1,010
Months of inventory
4.8

Months of inventory is how long the homes listed for sale would take to sell at the recent pace of sales. Single-family homes (the board's category): 535 sales, median $750,000.

Source: Ottawa Real Estate Board, monthly market update, September 2026, Ottawa report area (the board's citywide figures), residential. Checked October 2026.

Renting, October 2025

Average two-bedroom rent
$1,926 a month
Vacancy rate
3.0%

A year earlier the rent was $1,880 and vacancy 2.6%. The survey covers purpose-built rental apartments in private buildings of three or more units.

Source: CMHC Rental Market Survey, Table 1.0, published 11 December 2025, Ottawa-Gatineau CMA, Ontario part (census metropolitan area). Checked October 2026.

Households, 2021 Census

Households that own
63.9%
Median household income (2020)
$102,000

City of Ottawa (census subdivision 3506008): 407,250 households, population 1,017,449. Income is for 2020, the year before the census.

Source: Statistics Canada, 2021 Census of Population, Census Profile, City of Ottawa (census subdivision 3506008). Checked October 2026.

What's different about borrowing in Ottawa

  • Ottawa does not charge a municipal land transfer tax, so a purchase pays Ontario's land transfer tax only. Our land transfer tax calculator shows the amount.
  • The City of Ottawa's 2026 breakdown puts property tax in the urban area at $1,271 for every $100,000 of assessed value, of which $153 is the provincial education portion (City of Ottawa, checked October 2026). MPAC sets the assessed value, and it is not the price you pay, so ask for the seller's current tax bill. Lenders count property tax in the housing costs they qualify you on (CMHC debt-service rules, checked October 2026).
  • A two-bedroom apartment in the Ontario part of the Ottawa-Gatineau census metropolitan area (CMA), which includes Ottawa, rented for $1,926 a month on average in October 2025, up from $1,880 a year earlier (CMHC, checked October 2026). Vacancy was 3.0%. If you rent now, set that rent against a mortgage payment plus property tax, heat and upkeep.
  • In the 2021 Census, 63.9% of households in the City of Ottawa owned their home, and the median household income in 2020 was $102,000 (Statistics Canada, checked October 2026).

Outside Toronto you pay Ontario's land transfer tax only — work it out with the land transfer tax calculator. Also useful: Ontario closing costs · down payment rules.

Who we help in Ottawa

We help Ottawa households buy a first home, move up, renew or refinance. We compare banks, credit unions and monoline lenders (lenders that only do mortgages and work through brokers) first.

If you hold a term position, lenders look at how long you have worked in the role and whether your contracts have been renewed. Alternative lenders are the next step when a bank's rules don't fit, at a higher cost. Private money is a short bridge only, and we explain its cost first.

Questions from Ottawa borrowers

I'm on a term position in the federal public service. Can I qualify?

Often, yes. Lenders look at how long you have worked in the role or the field and whether your contracts have been renewed. A permanent position or a history of renewals helps. Every mortgage is subject to lender approval.

Do I pay a municipal land transfer tax in Ottawa?

No. In Ontario, only the City of Toronto charges a municipal land transfer tax; in Ottawa you pay Ontario's only.

Illustrative, not a quote: on the September 2026 median Ottawa sale of $625,000, Ontario's tax is $8,975, or $4,975 if you qualify for the full $4,000 first-time buyer refund (Ottawa Real Estate Board median and ontario.ca brackets, checked October 2026).

This is our arithmetic. 0.5% of the first $55,000 is $275, and 1% of the next $195,000 is $1,950. Then 1.5% of the next $150,000 is $2,250, and 2% of the last $225,000 is $4,500.

Your lawyer works out the exact amount at closing.

Your office is in Richmond Hill. Can you help me in Ottawa?

Yes. We work with borrowers across Ontario by phone and online, and you can start your application online wherever you live in the province.

Nearby: Kingston · Cornwall

General information for Ontario borrowers, not advice. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722.

Sources

No cost to talk

Talk to a broker about your Ottawa mortgage

Tell us what you're planning for a home in Ontario and a good number to reach you. We call back within one business day, usually sooner. We ask for documents only once we know which ones your mortgage needs.

You can also call us at (416) 371-2077.

What are you looking to do?
Roughly how large is the mortgage?

Optional

We use these details to call you back about your mortgage, and store them in Canada. If we introduce you to a partner broker, we tell you first and share only what you have given us here. See our privacy policy. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722. A pre-approval or quote is subject to lender approval.