Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Brantford homebuyers.
Based on $$580,000 average home price at current Ontario rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $29,000 | $22,040 | $573,040 | $3,323/mo | $2,832/mo |
| 10% | $58,000 | $16,182 | $538,182 | $3,121/mo | $2,660/mo |
| 15% | $87,000 | $13,804 | $506,804 | $2,939/mo | $2,505/mo |
| 20%NO CMHC | $116,000 | $0 ✅ | $464,000 | $2,691/mo | $2,293/mo |
The average home price in Brantford is approximately $580,000 as of 2026, representing a +3.0% change year-over-year.
Current 5-year fixed rates in Brantford start around 4.92%, while variable rates start around 3.38%. Credit unions in Ontario often offer rates 0.25–0.50% below major banks.
To afford a $580,000 home in Brantford with 10% down at 4.92%, you would need approximately $93,138/year gross income to meet the GDS ratio of 39%.
For a $580,000 home, the minimum down payment is 5% on first $500K + 10% on remainder. With 5% down, CMHC insurance of $22,040 is added to your mortgage.
With the Bank of Canada holding at 2.25%, variable rates (3.38%) are currently lower than 5-year fixed (4.92%). Variable saves money if rates stay flat or drop, but fixed gives payment certainty. Consult a mortgage broker for your specific situation.