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Mortgages in Holly

A south-west Barrie community of detached homes and townhouses close to schools and shopping. Here’s what buying there costs and which rules apply, before you compare lenders with one licensed mortgage professional.

Updated October 2026Sources linked

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Short answer

Holly is in Barrie, so Barrie’s tax rates and Ontario’s rules apply. On a $600,000 home you’d need at least $35,000 down and $8,475 in land transfer tax ($4,475 for a first-time buyer).

Buying in Holly

A south-west Barrie community of detached homes and townhouses close to schools and shopping.

Detached homes and townhouses here are often more affordable than in the GTA, which draws first-time buyers and families moving north.

What to know about a mortgage in Holly

Holly is popular with first-time buyers. Ask about the First Home Savings Account and the Home Buyers’ Plan for your down payment, and Ontario’s land transfer tax refund for first-time buyers.

How NorthMerit can help

Tell us what you’re planning and we’ll connect you with one licensed mortgage professional who compares lenders for you. It’s free, and there’s no obligation.

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What it costs to buy a $600,000 home in Holly

Repeat buyerFirst-time buyer
Minimum down payment$35,000$35,000
Mortgage insurance (added to the loan)$22,600$22,600
Sales tax on insurance (cash)$1,808$1,808
Ontario land transfer tax$8,475$4,475
Cash at closing$45,283$41,283

Example price, not a local average. Minimum down payment and a 25-year amortization; legal fees, title insurance and adjustments are extra.

Barrie rules that apply in Holly

Additional units are allowed but must be registered with the City before anyone moves in. Source

Lenders can count part of the rent from a legal unit toward your income, and some will use the expected rent when you buy. A unit that isn’t legal or registered where required may not count, and can complicate your insurance.

Sources

We checked these figures against official sources in October 2026. Rules and rates change, so confirm the details with your mortgage professional, lawyer or the source before you rely on them.

  1. Minimum down payment (Financial Consumer Agency of Canada)
  2. Mortgage insurance premiums (CMHC)
  3. Calculating land transfer tax (Government of Ontario)
  4. Land transfer tax refunds for first-time buyers (Government of Ontario)
  5. Barrie: additional units

Common questions

How much down payment do I need for a home in Holly?
At least 5% of the first $500,000 and 10% of the portion up to $1.5 million, or 20% at $1.5 million or more. On a $600,000 home that’s $35,000. With less than 20% down you also pay mortgage insurance, about $22,600 at that price, added to your mortgage.
What property tax will I pay in Holly?
Holly is taxed at Barrie’s rate, which the City publishes each spring. The seller’s latest bill shows what the home costs today.
Can I add a rental unit to a home in Holly?
Additional units are allowed but must be registered with the City before anyone moves in. Lenders can count part of the rent from a legal unit toward your income.
Who can help me get a mortgage in Holly?
NorthMerit introduces you to one licensed mortgage professional who serves Barrie. They compare banks, credit unions and lenders you can only reach through a broker, and it costs you nothing.

Popular in Holly

Buying your next homeMoving up, moving out or moving on, with your current home in the picture.RenewalsCompare before you sign your renewal.First-time home buyersYour first home, with someone in your corner.

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