Is this a good rate for a first-time buyer?

Insured mortgages (less than 20% down) get the best rates in Canada. We'll show you exactly where your quoted rate sits against today's top-tier first-time buyer pricing.

✓ Insured-rate benchmark for purchases under $1M
✓ See your real monthly payment + interest over 5 years
✓ Compare against the lowest-priced lenders, not posted rates

Based on Canadian mortgage data

Updated Apr 20, 2026

Used by buyers across Canada

What first-time buyers usually miss

Posted ≠ best rate

Big-bank posted rates are 1–2% above what discounted lenders actually offer. Always negotiate.

Insurance helps you

<20% down means CMHC/Sagen-insured pricing — typically the lowest rates on the market.

30-year amortization costs more

30-yr insured mortgages exist but are priced 0.10–0.20% higher. Worth it only if cash flow is tight.

Fixed vs variable

Fixed gives certainty; variable can save if rates fall. Most first-time buyers lean fixed for stability.