Current Toronto Mortgage Interest Rates
Discover our range of mortgage solutions with competitive interest rates and flexible terms designed for your property investment goals in Toronto
Toronto Interest Rates Overview
Step 1:The Purchase and Land acquisition
| Loan Type | Loan amount | Term | Interest Rates | Origination fee | Prepayment penalty |
|---|---|---|---|---|---|
| Land Acquisition Loans |
$500,000 $5 Million |
12-24 Months |
7%
10% |
1.0%
2.25% |
Varies by lender |
| Land Acquisition Loans | Over $5 Million | 12-24 Months |
7.15%
10.15% |
1.0%
2.25% |
Varies by lender |
Step 2:Construction and Development Financing
| Loan Type | Loan amount | Term | Interest Rates | Origination fee | Prepayment penalty |
|---|---|---|---|---|---|
|
1st Construction Financing |
$1 Million $10 Million |
12-36 Months |
6.50% 9% |
1.0%
2.25% |
Varies by lender |
|
1st Construction Financing |
Over $10 Million | 12-36 Months |
6.70% 9.20% |
1.0%
2.25% |
Varies by lender |
|
2nd Construction Financing |
$500,000
$5 Million |
12-24 Months |
9.99% 12.99% |
1.5%
2.75% |
Varies by lender |
| Development Financing |
$1 Million
$10 Million |
12-60 Months |
6.00% 8.5% |
1.0%
2.25% |
Varies by lender |
| Development Financing | Over $10 Million | 12-60 Months |
6.00% 9.99% |
1.0%
2.25% |
Varies by lender |
| 2nd Development Financing |
$1 Million $10 Million |
12-60 Months |
7.99% 10.79% |
1.5%
2.75% |
Varies by lender |
| 2nd Development Financing | Over $10 Million | 12-60 Months |
7.99% 10.99% |
1.5%
2.75% |
Varies by lender |
Step 3: Refinancing Options (Exit strategy to consolidate all debts)
| Loan Type | Loan amount | Term | Interest Rates | Origination fee | Prepayment penalty |
|---|---|---|---|---|---|
| Refinancing Options |
$500,000 $10 Million |
12-36 Months |
6%
9% |
1.0%
2.25% |
Varies by lender |
| Multi-Unit Mortgage loans | Over $4 Million | Varies | Starting From 4.99% |
1.0%
2.25% |
Varies by lender |
| Loan Type | Loan amount | Term | Interest Rates | Origination fee | Prepayment penalty |
|---|---|---|---|---|---|
| All types | Over 10 Million | Varies | TBD |
1.0%
2.25% |
Varies by lender |
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Available Financing Options
From construction loans to refinancing options, our lending experts are ready to help you find the right mortgage solution with market-leading Toronto interest rates.
First Mortgages
Ideal for primary homebuyers, offering low rates with flexible terms.
Second Mortgages
Designed for homeowners needing additional funds, leveraging home equity.
Bridge Financing
Short-term loans for transitioning between properties, ensuring seamless transactions.
Construction Loans
Tailored for builders and renovators, offering funds during the building phase.
Land Development
Financing solutions for property developers aimed at land acquisition and preparation.
Commercial Mortgages
Custom options for business property investments with competitive interest rates.
Why we are the chosen ones?
As your reliable financial partners, we bring more than just mortgage services to the table. With connections to over 50 banks and lenders, we harness our deep expertise and extensive experience to identify the best financing solutions for you. Our mission is to help you achieve your homeownership and investment dreams throughout Ontario.
Unbeatable Loan Rates
We ensure you get the most competitive rates available, helping you save money in the long run.
Direct Capital Access
Our extensive network has facilitated over $150 million in loans to date.
Speedy Approvals
Experience fast pre-approval, typically within 3 to 4 days, so you can move forward with your plans without delay.
Stellar Reputation
With over 100 five-star Google reviews, our clients' success stories speak for themselves.
Ontario-wide Lending
Our services span across Ontario, offering consistent and reliable loan closures throughout the region.
Extensive Lender Network
Our connections with over 50 lenders, including major banks, B lenders, and private lenders, give you a broad spectrum of financing options.
Experience the Difference – Unlock Your Financial Potential with TM Lending Today!
What Our Clients Say
FAQ
No, TM Lending is not a direct lender. Founder Esi Ghassemi is a licensed mortgage broker with experience in the Residential and Commercial/Investment Construction sector. We cannot provide quotes for rates or terms, but our network of 50+ lenders can provide exact rate and term information.
TM Lending typically funds mortgage deals between $5M and $600M.
No, we do not exclusively work with private lenders. We collaborate with Banks, Credit Unions, B lenders, and also private lenders.
The mortgage application process is affected by one’s credit score. Those with high scores will be rewarded with more favourable rates due to their history of repayment. Those with fair to good credit scores may only be eligible for higher mortgage rates.
This can vary depending on the specifics of the loan and the amount borrowed, but it usually takes between one week and three months.
After your offer is accepted, we can usually close on your mortgage in as little as 14 days. However, some loan types may require a longer closing period if they are complex or involve third parties. Please check with us to confirm the closing period before submitting your offer.
Yes, TM Lending provides refinancing solutions to help you secure better rates or access the equity in your home.