Your Burlington Mortgage Agent

Burlington sits between the lake and the Niagara Escarpment, with three GO stations, strong schools and easy access to the QEW and 407. That’s why it’s one of the priciest markets I work in, and why the details of your mortgage matter more here. On a $1-million mortgage, a quarter-point difference in rate is roughly $2,500 a year in interest.

As a Level 2 Mortgage Agent with DLC National Ltd., I compare 100+ lenders. That covers big banks, credit unions and monoline lenders, which can differ on rates, terms and prepayment penalties.

Burlington’s Market Right Now

Burlington held its value better than most of the region this year. The average sale price in September 2026 was about $1,076,000, up about 2% from a year earlier (Cornerstone Association of REALTORS®). The benchmark price for a typical home was about $854,500. The gap between the two shows how many larger detached homes sell here.

First-Time Buyers: The $1.5 Million Rule Helps

Since December 2024, you can buy a home priced below $1.5 million with less than 20% down, using an insured mortgage. Before that, a home priced at $1 million or more needed 20% down. First-time buyers can also choose a 30-year amortization on an insured mortgage, which lowers the monthly payment.

Here’s what that means at Burlington’s average price of about $1,076,000. The minimum down payment is 5% of the first $500,000 ($25,000) plus 10% of the remaining $576,000 ($57,600). That’s about $82,600, compared with $215,000 for 20% down. You’ll pay a mortgage insurance premium, so I’ll show you both options side by side.

Renewing or Downsizing in Burlington

Many Burlington homeowners locked in five-year terms in 2021, and those mortgages are renewing now. It helps to compare your offer with other lenders before you decide. I recommend starting about four months before your renewal date. There’s no prepayment penalty at the end of your term, though other switching costs can apply, so it’s worth asking who covers them.

For empty-nesters in Roseland, Tyandaga or Shoreacres moving to a condo near the lake, I can arrange bridge financing so you can buy before you sell. For homeowners 55 and older who want to stay put, a reverse mortgage is one more option to compare.

Burlington Neighbourhoods I Serve

North Burlington communities like Alton Village, Millcroft and the Orchard are popular with families buying newer detached homes and townhouses. South of the QEW, Roseland and Shoreacres have larger lots and established homes. Aldershot, close to the Aldershot GO station, is where you’ll find many entry-level townhouses and condos.

Mortgage Services in Burlington

Teach or work for the Halton District School Board or the Halton Catholic District School Board? My Teachers Mortgage Program offers preferred rates, up to $750 in rebates, and lenders that count supply and contract income.

Burlington Mortgage Questions

Do I need 20% down for a $1.2 million home in Burlington?

Not anymore. Homes priced below $1.5 million can be bought with an insured mortgage. On $1.2 million, the minimum is $25,000 on the first $500,000 plus 10% of the remaining $700,000, for a total of $95,000.

Is a 30-year amortization worth it?

It lowers your payment but adds interest over the life of the mortgage. Many clients take the 30-year option for flexibility, then make prepayments when they can. I’ll show you the total cost both ways.

Can I buy my next home before I sell my current one?

Yes. With a firm sale on your current home, a bridge loan can cover your down payment until that sale closes. Without a firm sale, we’ll look at carrying both mortgages or a short-term option.

Burlington at a Glance

• Population: about 187,000 (2021 Census)
• Average sale price: about $1,076,000 (September 2026, Cornerstone Association of REALTORS®)
• Typical home (benchmark): about $854,500 (Cornerstone HPI)
• GO stations: Aldershot, Burlington and Appleby, on the Lakeshore West line
• Highways: QEW, 403 and 407

Nearby Areas I Serve