Mortgages in Scarborough

Buying in Scarborough

Toronto’s east end, with a wide mix of detached homes, townhouses and apartments, long-established family neighbourhoods and plenty of industrial and retail space.

Neighbourhoods such as Agincourt, Malvern and the Bluffs each have their own character, from post-war bungalows to newer townhouses. Prices are often lower than in central Toronto, which draws first-time buyers and growing families.

What to know about a mortgage in Scarborough

If you’re buying new construction in Scarborough, plan for builder deposits paid in stages and closing dates that can move. Your mortgage approval needs to be ready, or renewable, for the actual closing date, and the final price can include adjustments you won’t see in the purchase price.

Older homes in Scarborough often need updates. A thorough inspection helps you budget, and if you plan to renovate, ask about a purchase-plus-improvements mortgage, which adds the cost of the work to your mortgage up front.

Scarborough 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.

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

Toronto rules that apply in Scarborough

Toronto’s 2026 residential property tax rate is 0.7673%, about $767 a year for every $100,000 of assessed value. Source

Toronto charges a Vacant Home Tax of 3% of the assessed value on homes left empty for more than six months of the year. Every owner has to declare their home’s status each year, even if they live in it. Source

Since May 2023, Toronto allows up to four units in residential zones across the city, so a house can become a duplex, triplex or fourplex, subject to building permits. Source

Operators of multi-tenant (rooming) houses need a City licence, under a city-wide framework in place since March 2024. Source

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. Municipal Land Transfer Tax rates (City of Toronto)
6. Toronto property tax rates
7. Toronto: vacant home tax
8. Toronto: rental licensing
9. Toronto: additional units
10. Home Ownership Assistance Program

Common questions