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Based on 429 reviews
May 18
Sandra was amazingly personable
Sandra was amazingly personable, efficient and knowledgeable. Kudos! A great ser...
Rachel Constantine
May 13
Car and home insurance
It was great experience and very helpful for what I needed!!!!
Maria GEstrela
May 11
Very accurate quotes that are fast …
Very accurate quotes that are fast thanks guys
May 10
Very pleasant and helpful
Very pleasant and helpful. No pressure there for the client
Dakota JCooper
May 6
Great help and very nice people
Great help and very nice people, got everything figured out fast!
May 5
They so friendly and informative
They so friendly and informative! Keep it up
Emmanuel CVillafuerte
May 5
Quick and courteous follow-up
Quick and courteous follow-up, connected me with a broker instantly.
April 27
Great experience
Was great, provided a few quotes and I felt no pressure to accept any of them. I...
April 19
This company does Follow up and Follow…
This company does Follow up and Follow through and that is so necessary because ...
Wendy Kinsey
April 13
Quick to respond and very competitive…
Quick to respond and very competitive rates offered.
Vincent EdwardWarren
April 13
Awesome service easy to deal with fast…
Awesome service easy to deal with fast and friendly
April 12
very fast service
very fast service, polite, efficient
April 11
yes it was quick and easy
yes it was quick and easy, like 100%
April 8
I spoke with Barb and she was very…
I spoke with Barb and she was very polite knowledgeable and friendly and profess...
Elena LiaBogdan
April 4
Its a good experience.
AnjoeTharakan Antony
March 20
Real options to save
Lowest Rates. CA has been extremely helpful I've gone through my ups and downs b...
Amir Isakovic
March 15
Very good.
Very good, and the Rates you have stated is great. Please wait till I see the ba...
Ian Stevens
March 10
Good customer service
Good customer service
Lina Bella
March 3
Great team and amazing communication…
Great team and amazing communication skills. Very straight forward to get an est...
Andre F MPereira
January 8
fast and easy
fast and easy
moira fortin
November 4
It was a good experience
It was a good experience
October 26
Easy to use
Easy to use, easy to find the result that you're looking for! 5 star coverage!
October 15
Great service and very helpful :) would…
Great service and very helpful :) would definitely recommend
Emily Peacock
October 14
It's great
It's great, found the best rates.
Chirath Ranaweera
October 14
Fast and pleasant experience
Fast and pleasant experience. Saved a lot of money too!
October 14
Fast response
Fast response
October 13
From the online process to the first…
From the online process to the first contact speaking to a rep it’s was a good...
Rose Daniel
October 13
A very pleasant contact
A very pleasant contact, without rep talking over my head., It was very infor...
Margaret Markson
September 30 is the best out there is the best out there. They are fast efficient and gets job done...
Maria M. T.
August 31
very quick and reliable rates
very quick and reliable rates
Tracie N

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Compare mortgage rates in Sarnia.

With a population just over 70,000, Sarnia is the largest city to look out onto the cool waters of Lake Huron. The allure of beaches and trails may be what seals the deal for a homebuyer looking to stay connected to nature. can connect you to the best home mortgage rates in Sarnia, Canada, by comparing mortgage rates from 75+ banks and brokers across Canada. Just tell us whether you’re buying a home, renewing or refinancing, tell us a few details about your home, and in three minutes we’ll show you the cheapest mortgage rates in Sarnia from lenders across the country. Keep reading to learn more about how to get a mortgage loan in Sarnia.

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Conventional vs. high-ratio mortgages: which is cheaper?

Depending on how much of a down payment you have, there are two main types of mortgages you can apply for: a conventional mortgage or a high-ratio mortgage.

We can describe a conventional mortgage many ways but essentially it is this: a loan for no more than 80% of the purchase price of a home. In other words, the buyer must have at least a 20% down payment on the purchase of a property in order to qualify for a conventional mortgage. Under this scenario, the buyer does not require mortgage insurance to back the purchase.

You can still buy a home with less than 20% down payment. That’s where a high-ratio mortgage comes in. High ratio mortgages are available to anyone who puts down as little as 5%. In Canada, this kind of mortgage requires insurance, otherwise known as mortgage default insurance. It protects the lender in case you can’t pay your mortgage payments. The cost is usually amortized over the lifespan of the mortgage.

Conventional 5-year fixed mortgage rates vs. high ratio 5-year fixed mortgage rates in Ontario

DateAverage Conventional RateAverage High Ratio Rate
05/21 2.04%1.81%
06/21 2.05%1.81%
07/21 2.05%1.76%
08/21 2.07%1.79%
09/21 2.02%1.75%
10/21 2.12%1.87%
11/21 2.41%2.16%
12/21 2.48%2.21%
01/22 2.56%2.31%
02/22 2.77%2.49%
03/22 3.07%2.77%
04/22 3.61%3.33%

Last Updated: May 1, 2022

Fixed rate vs. variable rate mortgages: which is cheaper?

In the world of mortgages, the fixed rate version is the most predictable option. It is built so that you know what you are going to pay, and for how long. Mortgage companies in Sarnia will quote you a fixed interest rate, let’s say 3% for five years, amortized over the length of time that it would take you to pay off the loan, which in Canada is typically set at 25 years. Those factors produce a monthly payment, which you agree to fulfill by signing the mortgage contract.

The variable rate, as its name suggests, is not set in stone. While it operates on a fixed term, the interest rates fluctuate because they are tied to the prime rate set by the government. You can still choose a fixed payment system with the variable rate, but how much of your payment goes to pay off interest or to pay off the mortgage premium will vary. You can also opt for fluctuating payments, in which case, be prepared for your monthly payments to change.

Choosing between a fixed mortgage rate, or variable mortgage rate in Sarnia, or anywhere, is a personal decision based on circumstance, and comfort level. Remember that shopping around is always the best policy to secure the lowest mortgage interest rate for your Sarnia dream home.

5-year fixed vs. 5-year variable mortgage rates in Ontario

05/21 1.97%1.34%
06/21 1.96%1.34%
07/21 1.93%1.29%
08/21 1.96%1.27%
09/21 1.92%1.27%
10/21 2.05%1.24%
11/21 2.32%1.19%
12/21 2.38%1.18%
01/22 2.47%1.23%
02/22 2.66%1.26%
03/22 3.00%1.53%
04/22 3.51%1.86%

Last Updated: May 1, 2022

Factors that affect your Sarnia mortgage rate

In Canada, the desire to own a home is real. But the government has imposed limits on how you can make that happen. Here are the key factors that can affect bank or broker mortgage rates in Sarnia.

Read More

Typical mortgage amounts in Sarnia

Your mortgage will depend on various things, including where you are choosing to buy, the amount of money you can put down as a down payment, and the mortgage interest rate from a bank or broker that you secure. Remember that in Sarnia, as in the rest of Canada, you’ll have to get mortgage insurance if you don’t have a 20% down payment, which will be incorporated into your mortgage costs. Mortgage insurance is available from three sources: the Canada Mortgage and Housing Corporation (CMHC), which is backed by the government, or private insurance companies Canada Guaranty and Sagen.

Current mortgage rates in Sarnia vary. That means you’d be wise to compare rates using’s free online quote tool. Getting a personalized quote is the best way of getting a sense of what the average mortgage rate is in Sarnia these days. You can also use’s mortgage payment calculator to calculate your Sarnia mortgage and play around with different financial scenarios.

Sarnia’s housing market and home prices

From coast to coast, housing prices in Canada continue to go up. But not all regions are seeing the same kind of growth. The province of Ontario, for example, is the second most expensive market, after British Columbia. It saw average prices jump from $708,000 to $835,000 from July 2020 to July 2021, according to the Canadian Real Estate Association.

In Sarnia-Lambton, average prices have gone from $412,000 to $502,000 over that same time period. According to the local real estate board, the median house price in Sarnia is still hovering around $435,000 in July, which is the same as in June.

Every penny counts, which makes mortgage rate comparisons in Sarnia, as in the rest of the country, crucial. can help connect you with the best mortgage lenders in Sarnia, so that you feel confident that you are getting a good deal. In a market as competitive as this, comparing today’s mortgage rates in Sarnia could give you the edge you are looking for in the house hunt.

Sarnia closing costs and land transfer tax

All this talk about house mortgage rates in Sarnia may overshadow the additional costs associated with buying a home. These are called closing costs and they include things like title insurance, mortgage default insurance — which is the insurance you get if you have not put down 20% on the purchase price — property valuation fees, home inspection fees, legal fees and home insurance.

Most provinces in Canada have land transfer taxes or fees. Sometimes they are fixed amounts, and other times that are calculated as a percentage of the purchase price. Sarnia doesn’t have a municipal land transfer tax, but the province of Ontario does. Ontario’s land transfer tax is charged at a marginal rate, which means the total purchase price is sectioned off into different brackets and taxed at different rates. Here’s how it works, based on the property price:

If you’re shopping around for a mortgage rate in Sarnia today, make sure to keep in mind all these other costs that come with buying a home.


Information for first-time homebuyers in Sarnia

The same minimum down payment rules apply if you’re a first time home buyer: at least 5% for a property that costs less than $500,000. If the property costs up to $999,999, the first $500,000 requires 5% down, and the remainder requires 10% down. Any property in excess of $1 million calls for a 20% down payment.

Luckily, there are a variety of programs available to ease the financial burden for first time home buyers. The First-Time Home Buyers’ tax credit can offset the cost of legal fees, inspections, and other closing costs up to $750.

The GST/HST New Housing rebate — which is available to any homebuyer, not just first time — will reimburse the GST or HST paid on a new build, to the tune of thousands of dollars.

The Federal Home Accessibility Tax for Seniors and Persons with Disabilities allows you to deduct as a tax expense the cost of making renovations or alterations to a home for the purpose of making it more accessible.

In Ontario, first-time home buyers are also entitled to a rebate of some or all of the provincial land transfer tax. The County of Lambton, which includes Sarnia, also has a new program, in partnership with the federal and provincial governments, to help with a down payment. It is for individuals who have been renting, who have a household income of no more than $93,000, and applies to the purchase of a property that costs no more than $300,000.

Your questions about Sarnia mortgages, answered.

What’s the difference between a mortgage term and an amortization period?

A mortgage term is the number of years in which you will be paying a specified interest rate, whether it’s fixed or variable. Another way of describing this would be the duration of your contract with the lender. You agree to pay a certain amount of annual interest for a certain number of years — those years amount to the mortgage term — and the lender agrees to honour those terms. The amortization period is the total amount of time that it would take you to pay off the entire mortgage amount. In Canada, it’s most common to secure a five-year mortgage term, over a 25 year amortization period.

What’s the difference between an open mortgage vs. a closed mortgage?

This is important to understand, especially if you want the option to fast track payments on your mortgage. An open mortgage is one that gives you the flexibility to pay more of your mortgage off, either through larger monthly payments than originally agreed upon, or with lump sums.

Closed mortgages, on the other hand, don’t give you that flexibility at all. In fact, you could face financial penalties if you try to pay your loan off more quickly. That’s because paying a mortgage off more quickly means that the lender is making less than they had originally calculated in terms of interest payments.

How much does it cost to live in Sarnia?

As with all things, the cost of living in Sarnia depends on your choices. Specifically, your lifestyle and the types of expenses that you incur day to day. While Sarnia saw double-digit increases in the average price of homes in the last year, it’s still one of the more affordable real estate markets in Ontario. Choosing to rent rather than buying a home would alter your cost of living, along with how far you work, and how you get to that job. Sarnia has public transit, which is a more affordable form of transportation. But it might not be the most efficient way of getting around, and you might need a car, and insurance in order to operate it. It’s worth mentioning that Ontario has the highest car insurance rates in the country. And Sarnia was recently ranked as having the fourth highest property tax rate in Ontario.

How much does getting a lower interest rate matter in Sarnia?

Getting the lowest mortgage rate in Sarnia is one, albeit important, factor to consider when deciding on the mortgage rate that is best for you. Sarnia has wooed you, but make sure to assess things like prepayment privileges, which allow you to pay part or all of your loan ahead of schedule. Some mortgages will charge penalties to do that, because the lender is not going to be making as much money on interest if the loan takes less time to pay off. This kind of flexibility is important to keep in mind because plans change or we outgrow dream homes quicker than we thought and may need to sell a property and end a mortgage contract.

This is also where something called portability comes into play. Portability is the ability to transfer your existing mortgage and all the terms associated with it to a new property, without incurring any penalties. Not all lenders allow for that. It’s worth asking about, especially if you don’t know exactly what the near future may hold for you.

Your questions about, answered.

How are mortgage rates determined on works with 75+ banks and brokers to bring you competitive mortgage rates from lenders in Canada. We work with our partners to obtain their best deals and offers, and then we let them compete for your business. All you have to do is answer a few questions, and in minutes you’ll be provided with today’s mortgage rates. There’s no obligation, but you can choose to speak with our broker partner to secure your best rate and see if you're eligible for more savings.

Is it safe to get a mortgage online?

Yes, it’s safe — you no longer need to visit a bank branch or mortgage broker’s office in person to apply for a mortgage. It’s becoming increasingly common for Canadians to apply for mortgages online. only works with reputable, trustworthy financial institutions. Your credit score won’t be affected and your information is secure. We don’t share your information with anyone unless you want to connect with a mortgage broker. We take care of the heavy lifting by comparing the market for you and can connect you with the best mortgage lenders in the country.

How do I know I’m getting the lowest rate?

We have a strong selection of lenders on including the big banks and many independent providers and we’re adding more lenders all the time. This ensures we’re always delivering you a competitive rate. Even if you’re not ready to commit to anything, you can use our site as a starting point for research (it’s totally free, and you’re under no obligation).

The better informed you are, the more likely you'll negotiate a better deal for yourself. And, really, that’s what we care about the most.

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