Mortgage Broker in Oakville, Ontario: Jenny Tate, Mortgage Agent

How working with Jenny works

An Oakville purchase, renewal or refinance moves in four steps:

1. A free 15-minute call. You outline the price, where the down payment is coming from, your income and your timing. Jenny checks which side of the $1.5 million line the price falls on, and you can ask about compensation and any borrower costs.
2. Documents. You get an income, funds and property checklist for your file. If part of your pay is bonus, commission or other variable income, the checklist covers the history and employer evidence a lender wants.
3. Written terms. Jenny compares terms from institutional lenders. You get the terms in writing, with the date each quote expires and the conditions still open.
4. Conditions. A conditional approval is not final until the lender's remaining conditions are met. Keep the financing condition in your offer until they are, even if you hold a pre-approval.

Why use a mortgage broker in Oakville

A bank branch can discuss that bank's own products. A mortgage agent or mortgage broker works through a licensed brokerage and may arrange offers from more than one lender, depending on the brokerage's lender relationships and the professional's licence scope. You can then compare written terms for the same loan side by side. Neither route guarantees approval, the lowest rate or the lowest overall cost.

In Oakville that comparison starts with cash. Community median prices sit on both sides of the $1.5 million insured-mortgage line (table below), so the price gets checked before the rate.

What to ask an Oakville mortgage broker or agent

• Lenders considered. Which lenders and products were considered for your application, which were unavailable, and why the recommendation fits. Access to several lenders is not access to every lender or every advertised rate.
• Fee terms. For any borrower fee, get the amount, who receives it, when it is due and what happens if you cancel or the mortgage does not close.
• Other costs. Who pays for the appraisal, legal and title work, registration, insurance and discharge, kept separate from any brokerage fee.

Oakville mortgage rates: what decides your quote

There is no separate mortgage rate for Oakville. A lender prices the application, and four things on it move the quote:

• Insured or uninsured. Below $1.5 million with less than 20% down, the mortgage can be insured if you, the property, the lender and the insurer all qualify. At $1.5 million or more it cannot. Lenders price insured and uninsured mortgages differently, so a quote has to say which one it assumes.
• Term and rate type. A fixed quote and a variable quote need different details in writing; the checklist below lists them.
• Down payment. It sets the loan amount and decides whether the mortgage is insured.
• Income type. Ask each lender how it will treat any part of your pay that is not base salary, and what evidence it wants.

What to request in writing

No mortgage broker can tell you the best rate for an Oakville purchase before a lender has reviewed the file.

The $1.5 million line and your down payment

For a home purchase in Oakville, check this line before anything else. At $1.5 million or more, the minimum down payment is 20% of the full price. Below it, the minimum is 5% of the first $500,000 plus 10% of the rest (FCAC down payment rules). The federal government announced the increase in the insured-mortgage price cap from $1 million to $1.5 million in September 2024, and it came into force on December 15, 2024.

The $1 step from $1,499,999 to $1,500,000 raises the minimum down payment from $124,999.90 to $300,000, which is $175,000.10 more. That is the down payment only, not your total closing cash. Below the line, insured financing still depends on lender and insurer approval.

Buying a new home in Oakville under $1.5 million? Purchasers of new builds and first-time buyers may qualify for a 30-year insured amortization, subject to lender and insurer conditions. A longer amortization lowers the payment and increases the total interest. Details are in the 30-year amortization guide.

Oakville prices by community

Find the community you are shopping in; the column beside its median price is the cash the minimum down payment takes at that price. In the second quarter of 2026, the median sale price was at or above $1.5 million in 8 of the 20 communities with reported prices: Bronte Creek, Clearview, Ford, Glen Abbey, Joshua Creek, Morrison, Old Oakville and Southwest. At those medians a buyer needs 20% down and the mortgage cannot be insured. In the other 12 the median is below the line, where the tiered minimum applies.

These are medians across all home types, so a condo and a detached house in the same community can land on opposite sides of the line. Run the calculation on the actual price.

TRREB does not report prices where a community had two or fewer sales, so Queen Elizabeth, Rural Oakville and Sixteen Hollow are left out. Northwest had 3 sales, so one sale can move its figures. Figures are for Q2 2026. TRREB publishes this report every quarter; the Q3 2026 report was not yet published on October 9, 2026, and this table is updated when it is.

First-time home buyers in Oakville

A first-time buyer in Oakville needs the minimum down payment for the actual price, plus closing costs, in cash. In the second quarter of 2026 the lowest community medians were Joshua Meadows ($768,500, minimum down payment $51,850) and College Park ($975,000, minimum down payment $72,500). The full tiers are in the guide to minimum down payment rules.

Three programs can add to your cash if you meet each one's conditions. Check each definition separately: qualifying for a tax program does not establish mortgage insurance eligibility.

• FHSA. Check your eligibility and participation room on the CRA's First Home Savings Account page before you contribute.
• RRSP Home Buyers' Plan. Eligible participants can withdraw up to $60,000 each from their RRSPs. For a first withdrawal made in 2026, the 15-year repayment period starts in 2031 (CRA HBP rules, checked October 9, 2026). HBP and FHSA withdrawals can be combined for the same qualifying home if you meet both sets of conditions; see using the FHSA and HBP together.
• Ontario land transfer tax refund. Eligible first-time buyers can get back up to $4,000 of the provincial tax under Ontario's land transfer tax refund for first-time homebuyers. Ask your lawyer to calculate the tax and the refund for the actual purchase and ownership shares.

Before you bid, confirm:

• The down payment and closing cash at your offer price, not at a community median.
• Which side of $1.5 million the offer sits on, and your limit if bidding pushes it over. At $1,500,000 the minimum down payment becomes $300,000.
• A lender's qualification review based on your complete income, debts and housing costs.
• Whether you qualify for the 30-year insured amortization available to first-time buyers.

Renewing, refinancing or another situation

• Renewing. FCAC's guide to renewing your mortgage recommends shopping around a few months before the end of your term. Work out the payment from your actual balance, amortization and written offer with the Ontario mortgage renewal guide and the renewal calculator.
• Switching or refinancing. A new lender has to approve the application, and discharge, registration and legal costs can apply. See renewal, switch or refinance: what to compare.
• Second mortgage. Compare it with refinancing the first using written quotes and a current payout statement; a second charge still puts your home at risk. See the second mortgage guide.
• Buying before you sell. Confirm the financing conditions and what happens if your sale or closing is delayed. See bridge financing in Ontario.
• Private mortgage. Jenny's licence does not cover private lenders; the FAQ below says who can arrange one. Prepare your cost and exit-plan questions with the private mortgage guide.