Mortgage Broker in London
London, Ontario has a lot going for it. A major university, a growing health sciences sector, and home prices that make GTA buyers do a double take. Canadian Mortgage Services has been helping Ontario homeowners since 1988, and we bring over 40 lender options to every deal. Buying, renewing, or refinancing. We make the process straightforward.
Known as the “Forest City,” London sits along the Thames River in southwestern Ontario. It's a regional hub for healthcare, education, and manufacturing, with a growing population that's pushing demand and slowly tightening the market.
London at a Glance
- Average Home Price: ~$614,000 (early 2026)
- Population: ~420,000
- Top Neighbourhoods: Byron (family-oriented), Old North (character homes), Masonville (near Western University), Wortley Village (walkable, artsy)
- Commute: Highway 401, about 2 hours to Toronto; VIA Rail service available
Did You Know? London's street names mirror its English namesake, you'll find a Thames River, an Oxford Street, and even a Piccadilly Street. The city is also home to Western University, one of Canada's top research institutions, and a major centre for medical research.
Why London Residents Work With Us
London's market offers real value, but the lending process can still trip up buyers who aren't prepared. We make sure you're set up for success from the start.
- Virtual service, full support. We serve London remotely with the same level of care and attention as an in-person meeting.
- Beyond the big banks. We access 40+ lenders including credit unions, alternative lenders, and private lenders that most London buyers don't know about.
- Every income type. Salaried, self-employed, gig economy, commission-based. We know how to present your file for the best result.
- We follow through. We don't disappear after closing. We're here for renewals, refinancing, and whatever comes next.
Your Mortgage Options in London
London offers something for everyone, from heritage homes in Old North to new builds on the south side. We match your financing to the property and your financial situation.
First-time buyers in London can stretch their budget further than in most Ontario cities, especially with government incentive programs. Homeowners looking to renew should always compare. We shop across 40+ lenders so you're not overpaying.
We find options that the big banks won't offer, and we do it with zero pressure. That's been our approach for over 35 years.
London's student population, driven by Western University and Fanshawe College, creates a strong rental market that attracts investors from across Ontario. We help structure investment mortgages to optimize cash flow and build long-term wealth.
Who We Work With in London
Our clients in London come from all walks of life. We've helped first-time buyers get into their first home with as little as 5% down. We've helped self-employed business owners prove their income when banks wouldn't listen. We've helped newcomers to Canada secure financing within months of arriving, and we've helped homeowners facing financial difficulty find a way to keep their home through refinancing and debt consolidation.
No matter where you are in your financial journey, we start by listening. Then we build a plan that works, not just for today, but for the years ahead. That's the advantage of working with a broker who's been in this business for over 35 years.
What's Happening in London Real Estate
London's real estate market offers genuine affordability relative to the GTA, with strong fundamentals driven by Western University, the healthcare sector, and a diversifying economy. The city has seen increased attention from remote workers and GTA expatriates, gradually tightening the market.
If you're watching the market or ready to move, we help London buyers and homeowners make decisions based on real data and experienced advice, not speculation.
Why Use a Mortgage Broker Instead of a Bank?
A bank offers you their products and their rates. A mortgage broker offers you the market. We compare rates, terms, and conditions across more than 40 lenders, including options you won't find at any single institution. For London buyers and homeowners, that means better rates, more flexible qualifying criteria, and terms built around your financial reality. Our service is free to you on most residential mortgages. The lender pays our fee.
How We Help London Homeowners and Buyers
We offer a full range of mortgage solutions for London residents. Whatever your situation, there's a path forward.
FAQ's - Mortgage Broker London
How much does it cost to buy a home in London right now?
As of early 2026, the average home price in London is around $614,000. That said, prices vary a lot depending on the neighbourhood and property type. A condo or townhome will sit well below that average, while detached homes in popular areas can be higher. We can give you a more specific breakdown based on where you want to buy.
How much do I need for a down payment in London?
Based on current average prices in London, the minimum down payment starts around $36,400. In Canada, homes under $500,000 require 5% down. Between $500,000 and $999,999, it's 5% on the first $500,000 and 10% on the rest. Over $1 million, you need at least 20%. We help you figure out what works for your budget and which programs can help reduce your upfront costs.
Why should I use a mortgage broker in London instead of going to my bank?
A bank only offers its own products. A mortgage broker compares options from 40+ lenders, including banks, credit unions, and alternative lenders, to find the best rate and terms for your situation. There's no cost to you on most residential mortgages because the lender pays our fee. For London buyers, this means more options, better rates, and terms that actually fit your financial picture.
What are closing costs when buying a home in London?
Budget roughly 1.5% to 4% of your purchase price for closing costs. This covers land transfer tax, legal fees, title insurance, and adjustments. In Ontario, first-time buyers can get a rebate on up to $4,000 of the provincial land transfer tax. London buyers should also budget for a home inspection and appraisal if required by the lender. We walk you through all of this so there are no surprises.
What first-time buyer programs are available in London?
Ontario first-time buyers can access several programs: the First Home Savings Account (FHSA), the Home Buyers' Plan (withdraw up to $60,000 from your RRSP), Ontario's land transfer tax rebate (up to $4,000), and the federal First-Time Home Buyer Incentive. You may also qualify for extended 30-year amortization on insured mortgages. We make sure you take advantage of every program you're eligible for.
When does it make sense to refinance my mortgage in London?
Refinancing can make sense when you want to access home equity, consolidate high-interest debt, fund renovations, or take advantage of a lower rate. The key is making sure the savings outweigh the costs of breaking your current mortgage. We run the full analysis, including any penalties, legal fees, and the long-term impact, so you can see whether refinancing actually puts you ahead.