Mortgage affordability in London
Monthly mortgage examples for London, Ontario, using the 4.58% national average effective rate (5-year+ fixed).
$400,000 home
$1,793/mo
Assumes 20% down and 25-year amortization.
$600,000 home
$2,690/mo
Assumes 20% down and 25-year amortization.
$800,000 home
$3,586/mo
Assumes 20% down and 25-year amortization.
Local affordability context
The local 1-bedroom rent baseline is $1,560 and monthly essentials are about $2,077 before mortgage-specific costs such as property tax, insurance, condo fees, and utilities.
Next steps
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