Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Windsor homebuyers.
Based on $$430,000 average home price at current Ontario rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $21,500 | $16,340 | $424,840 | $2,464/mo | $2,100/mo |
| 10% | $43,000 | $11,997 | $398,997 | $2,314/mo | $1,972/mo |
| 15% | $64,500 | $10,234 | $375,734 | $2,179/mo | $1,857/mo |
| 20%NO CMHC | $86,000 | $0 ✅ | $344,000 | $1,995/mo | $1,700/mo |
The average home price in Windsor is approximately $430,000 as of 2026, representing a +4.5% change year-over-year.
Current 5-year fixed rates in Windsor 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 $430,000 home in Windsor with 10% down at 4.92%, you would need approximately $69,046/year gross income to meet the GDS ratio of 39%.
For a $430,000 home, the minimum down payment is 5% ($21,500). With 5% down, CMHC insurance of $16,340 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.