Peterborough · Peterborough area

Mortgages in Peterborough, compared across lenders

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

We help Peterborough households buy, renew and refinance by comparing banks, credit unions, trust companies and monoline lenders. In September 2026 the median Peterborough sale was $546,500, across 71 sales (Central Lakes Association of REALTORS, checked October 2026). Every mortgage is subject to lender approval; we arrange mortgages for properties in Ontario only.

Peterborough in numbers

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

Home sales, September 2026

Median sale price: $546,500
Average sale price: $567,733
Sales: 71

Detached homes: 62 sales, median $548,250. Peterborough City and County: 149 sales, median $598,000.

Source: Central Lakes Association of REALTORS, Peterborough and the Kawarthas housing report, September 2026, City of Peterborough row, residential (report dated 2 October 2026). Checked October 2026.

Residential property tax rate, 2026

Total rate: 1.8892540%

Made up of City 1.7362540% + education 0.1530000%. The rate applies to the assessed value set by MPAC (the Municipal Property Assessment Corporation), not to the price you pay.

Source: City of Peterborough, Property tax information, 2026 rates on the City's property tax page (single-tier city; page undated, by-law number not printed). Checked October 2026.

Renting, October 2025

Average two-bedroom rent: $1,518 a month
Vacancy rate: 3.1%

A year earlier the rent was $1,506 and vacancy 3.3%. The survey covers purpose-built rental apartments in private buildings of three or more units.

Source: CMHC Rental Market Survey, Ontario tables 1.1.1 and 1.1.2, published 11 December 2025, Peterborough CMA (census metropolitan area). Checked October 2026.

Households, 2021 Census

Households that own: 59.4%
Median household income (2020): $71,500

City of Peterborough (census subdivision 3515014): 35,980 households, population 83,651. Income is for 2020, the year before the census.

Source: Statistics Canada, 2021 Census of Population, Census Profile, City of Peterborough (census subdivision 3515014). Checked October 2026.

What's different about borrowing in Peterborough

Peterborough is outside the City of Toronto, so a purchase pays Ontario's land transfer tax only. Our land transfer tax calculator shows the amount.
Peterborough's 2026 residential property tax rate is 1.8892540% of the home's assessed value, counting the City and education parts (City of Peterborough, Property tax information, 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 Peterborough census metropolitan area (CMA), which includes Peterborough, rented for $1,518 a month on average in October 2025, up from $1,506 a year earlier (CMHC, checked October 2026). Vacancy was 3.1%. If you rent now, set that rent against a mortgage payment plus property tax, heat and upkeep.
In the 2021 Census, 59.4% of households in the City of Peterborough owned their home, and the median household income in 2020 was $71,500 (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 Peterborough

We help Peterborough 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.

At renewal you can switch lenders without a prepayment penalty, and if staying is the better deal, we say so. 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 Peterborough borrowers

Do I pay Toronto's land transfer tax in Peterborough?

No. Peterborough is outside the City of Toronto, so only Ontario's land transfer tax applies.

Illustrative, not a quote: on the September 2026 median Peterborough sale of $546,500, Ontario's tax is $7,405, or $3,405 if you qualify for the full $4,000 first-time buyer refund (Central Lakes Association of REALTORS 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 $146,500 is $2,930.

Your lawyer works out the exact amount at closing.

My renewal is coming up. Should I compare offers?

Yes. Your renewal letter is one offer. At the end of the term you can switch lenders without a prepayment penalty, and if staying is the better deal, we say so.

Is there down-payment help in Peterborough?

Not right now. The City of Peterborough says its Homeownership Assistance Loan Program (HALP) is currently closed (City of Peterborough, checked October 2026).

The federal and Ontario first-time buyer measures still apply: the FHSA, the RRSP Home Buyers' Plan and the land transfer tax refund.

Can I work with you if I live in Peterborough?

Yes. We work with borrowers across Ontario by phone and online; our office is in Richmond Hill.

Nearby: Kawartha Lakes · Belleville · Clarington

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

Sources

Central Lakes Association of REALTORS, Peterborough and the Kawarthas housing report, September 2026, checked October 2026.
City of Peterborough, Property tax information, 2026 tax year, checked October 2026.
CMHC Rental Market Survey, Ontario tables 1.1.1 and 1.1.2, published 11 December 2025, October 2025, checked October 2026.
Statistics Canada, 2021 Census of Population, Census Profile, City of Peterborough (census subdivision 3515014), 2021 Census, checked October 2026.
City of Peterborough, Help for homeowners, page as read in October 2026, checked October 2026.
Ontario, Calculating land transfer tax, page updated 22 April 2026, checked October 2026.
Ontario, Land transfer tax refunds for first-time homebuyers, page updated 10 February 2026, checked October 2026.
CMHC, Calculating GDS and TDS, debt-service rules for insured mortgages, checked October 2026.
Land transfer tax example: our arithmetic, Ontario's brackets applied to the Central Lakes Association of REALTORS September 2026 median, less the $4,000 first-time buyer refund, checked October 2026.

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Talk to a broker about your Peterborough 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.

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