Scarborough · City of Toronto
Mortgages in Scarborough, compared across lenders
We compare banks, credit unions and monoline lenders for your Scarborough purchase, renewal or refinance, and explain the trade-offs in plain English.
We help Scarborough households buy a first home, move up, renew or refinance, comparing banks, credit unions, trust companies and monoline lenders. In September 2026 TRREB's 8 Scarborough districts recorded 310 sales at an average of $807,343 (TRREB district figures, our sum, checked October 2026). Every mortgage is subject to lender approval; we arrange mortgages for properties in Ontario only.
Scarborough in numbers
These are the latest published figures we could check for Scarborough, each with its source and date. They describe the market, not your mortgage.
Home sales, September 2026
- Sales, districts combined
- 310
- Average sale price, districts combined
- $807,343
Total and average are our arithmetic: the districts' sales added up, and their dollar volume divided by those sales. A median can't be added up, so each district's is below.
| District | Communities (as TRREB names them) | Sales | Median |
|---|---|---|---|
| E04 | Clairlea-Birchmount, Dorset Park, Ionview, Kennedy Park, Wexford-Maryvale | 52 | $812,500 |
| E05 | L'Amoreaux, Steeles, Tam O'Shanter-Sullivan | 39 | $738,000 |
| E06 | Birchcliffe-Cliffside, Oakridge | 26 | $770,000 |
| E07 | Agincourt North, Agincourt South-Malvern West, Milliken | 39 | $778,000 |
| E08 | Cliffcrest, Eglinton East, Guildwood, Scarborough Village | 36 | $803,000 |
| E09 | Bendale, Morningside, Woburn | 47 | $770,000 |
| E10 | Centennial Scarborough, Highland Creek, Rouge E10, West Hill | 43 | $940,000 |
| E11 | Malvern, Rouge E11 | 28 | $685,000 |
Residential property tax rate, City of Toronto, 2026
- Total rate
- 0.767311%
Made up of City 0.605295% + City Building Fund 0.009016% + education 0.153000%. The rate applies to the assessed value set by MPAC (the Municipal Property Assessment Corporation), not to the price you pay.
Renting, October 2025
- Average two-bedroom rent
- $2,046 a month
- Vacancy rate
- 3.0%
A year earlier the rent was $1,974 and vacancy 2.5%. The survey covers purpose-built rental apartments in private buildings of three or more units.
What's different about borrowing in Scarborough
- Scarborough is part of the City of Toronto, so a purchase here pays Toronto's municipal land transfer tax as well as Ontario's. Our land transfer tax calculator shows the total and the first-time buyer refunds.
- The City of Toronto's 2026 residential property tax rate, which applies in Scarborough, is 0.767311% of the home's assessed value, counting the City, City Building Fund and education parts (City of Toronto, 2026 Property Tax Rates, 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 Toronto census metropolitan area (CMA), which includes Scarborough, rented for $2,046 a month on average in October 2025, up from $1,974 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.
Toronto buyers pay two land transfer taxes — work it out with the land transfer tax calculator. Also useful: Ontario closing costs · down payment rules.
Who we help in Scarborough
We help Scarborough 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 the home has a legal basement unit, some lenders count part of its rent when you qualify. 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 Scarborough borrowers
Do I pay Toronto's land transfer tax in Scarborough?
Yes. Scarborough is part of the City of Toronto, so you pay the municipal land transfer tax on top of Ontario's. First-time buyers may qualify for a refund of part of both.
Illustrative, not a quote: TRREB publishes no single median for Scarborough, so this uses the September 2026 City of Toronto median of $810,000. Ontario's tax is $12,675 and Toronto's is $12,675, $25,350 in all (TRREB median, ontario.ca and toronto.ca brackets, checked October 2026).
If you qualify for both first-time buyer refunds in full, $16,875 is left (up to $4,000 from Ontario and $4,475 from Toronto). This is our arithmetic: below $2 million the two taxes use the same brackets, so each comes to the same amount.
Your lawyer works out the exact amount at closing.
Can rent from a basement apartment help me qualify?
It can. Some lenders count part of the rent from a legal secondary unit in the home you live in, usually with a lease or an appraiser's rent estimate. A unit that is not legal is usually not counted, so check its status first.
My family is helping with the down payment. What do lenders need?
Usually a signed gift letter saying the money is a gift and does not have to be repaid, and proof that the funds are in your account before closing. Each lender has its own form, so we tell you which one early.
Nearby: Toronto · Markham · Pickering · North York
General information for Ontario borrowers, not advice. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722.
Sources
- TRREB, GTA Market Watch, September 2026, checked October 2026.
- City of Toronto, 2026 Property Tax Rates, 2026 tax year, checked October 2026.
- CMHC Rental Market Survey, Table 1.0, published 11 December 2025, October 2025, 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.
- City of Toronto, Municipal land transfer tax rates and fees, page updated 7 April 2026, checked October 2026.
- City of Toronto, Municipal land transfer tax rebate opportunities, page updated 18 December 2025, checked October 2026.
- CMHC, Calculating GDS and TDS, debt-service rules for insured mortgages, checked October 2026.
- TRREB, Toronto East community housing market report, 2026 Q2, district and community names, checked October 2026.
- Land transfer tax example: our arithmetic, Ontario's and Toronto's brackets applied to the TRREB September 2026 City of Toronto median, less both first-time buyer refunds, checked October 2026.
No cost to talk
Talk to a broker about your Scarborough 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.