Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Sudbury homebuyers.
Based on $$380,000 average home price at current Ontario rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $19,000 | $14,440 | $375,440 | $2,177/mo | $1,855/mo |
| 10% | $38,000 | $10,602 | $352,602 | $2,045/mo | $1,743/mo |
| 15% | $57,000 | $9,044 | $332,044 | $1,926/mo | $1,641/mo |
| 20%NO CMHC | $76,000 | $0 ✅ | $304,000 | $1,763/mo | $1,502/mo |
The average home price in Sudbury is approximately $380,000 as of 2026, representing a +4.2% change year-over-year.
Current 5-year fixed rates in Sudbury 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 $380,000 home in Sudbury with 10% down at 4.92%, you would need approximately $61,015/year gross income to meet the GDS ratio of 39%.
For a $380,000 home, the minimum down payment is 5% ($19,000). With 5% down, CMHC insurance of $14,440 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.