Mortgages in River Oaks

Buying in River Oaks

A north Oakville community of detached homes and townhouses close to schools, parks and the Sixteen Mile Creek trails.

Mostly built in the 1990s, it offers detached homes and townhouses at a lower price point than south Oakville. It’s close to Oakville Place and major routes.

What to know about a mortgage in River Oaks

A mortgage professional who knows Oakville can tell you how lenders view homes in River Oaks, what appraisals tend to come in at, and which options fit your plans.

What it costs to buy a $1,000,000 home in River Oaks

Oakville rules that apply in River Oaks

Oakville’s 2026 residential property tax rate is 0.851%, about $851 a year for every $100,000 of assessed value. Source

Halton Region and its towns don’t charge a vacant home tax. Source

Ontario’s Planning Act allows up to three units on most serviced residential lots, such as a main home plus a basement apartment and a garden suite, as long as you meet the building code and local zoning details. 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. Additional residential units, up to three per lot (Environmental Registry of Ontario)
6. Oakville property tax rates
7. Oakville: vacant home tax

Common questions