How Much House Can I Afford in Sarnia-Lambton?

One of the most common questions we hear from new homebuyers is: “How much house can I afford?” It’s a great place to start—and we’re here to help you make sense of it, especially in a market like Sarnia-Lambton, where your dollar can stretch further than in many other regions of Ontario.

1. Get Pre-Approved

A mortgage pre-approval gives you a clear idea of your price range. Lenders (like credit unions and banks) look at your income, debts, credit history and down payment. If you’re not sure where to begin, we can recommend great local mortgage pros, or you can browse our free online business directory here.

2. Know the Full Costs

There’s more to owning a home than just the mortgage. You’ll want to consider property taxes, utilities, home insurance and maintenance. Here's a quick look at estimated monthly costs at three different price points:

Home Price	Down Payment (5%)	Estimated Monthly Mortgage	Property Taxes (est.)	Total Monthly Cost
$350,000	$17,500	$2,030	$300	$2,330
$450,000	$22,500	$2,610	$350	$2,960
$550,000	$27,500	$3,190	$400	$3,590

Note: Based on a 5-year fixed rate at ~5.5%, 25-year amortization. Your numbers may vary—let’s talk specifics!

Today's Best Available Mortgage Rates (Canada-wide)

August 10, 2025

These "best" rates are typically offered by online lenders and mortgage brokers and are often reserved for insured mortgages with strong qualifications.

• 5-Year Fixed: The lowest available rates are currently around 3.84% to 4.04%.

• 5-Year Variable: The lowest rates are ranging from 3.90% to 4.00%.

Today's Average Available Mortgage Rates (Canada-wide)

These are closer to what the average well-qualified buyer might be offered by a major bank or a more traditional lender.

• 5-Year Fixed: The national average is approximately 4.48% to 4.71%.

• 5-Year Variable: The average rate is around 4.49% to 4.67%.

• 3-Year Fixed: The average is approximately 4.51% to 4.77%.

Key Points:

• Fixed vs. Variable: Fixed rates offer stability and predictability for budgeting, while variable rates can be lower initially but fluctuate with the Bank of Canada's prime rate. The current prime rate is 4.95%.

• Insured vs. Uninsured: Mortgages with a down payment of less than 20% are insured, and often qualify for a better rate due to less risk for the lender.

• Posted Rates: The "posted rates" from major banks are often significantly higher than the "special offers" or "discounted rates" that are negotiated.

• Consider a Mortgage Broker: A mortgage broker can be an invaluable resource. They have access to a wide range of lenders and can help you secure the most competitive rate and the best terms for your unique situation in many circumstances.

3. Decide What Feels Comfortable

Just because you can afford a home in Sarnia-Lambton doesn’t mean you should max out your budget. Think about other goals like travelling in Canada, saving for a hot tub or future renovations. We always encourage buyers to choose a price point that allows flexibility.

4. Take Advantage of Local Value

One of the best things about buying in Sarnia-Lambton is affordability. Compared to major centres, you can often find a larger home or better location for less, whether it's a cozy city bungalow or a peaceful country property.

5. Lean on Local Experience

Once we know your ideal price range, we’ll guide you toward homes that match your budget and your lifestyle. That’s why people love working with us (Carla & Sheri!)

We’ve helped countless first-time buyers in Lambton’s communities find that perfect balance.

Ready to get started?

If you’re wondering how much house you can afford—or where to begin the process—we’d love to chat. We’re here to answer your questions, recommend trusted lenders, and help you make a confident, informed move. Email or call us right now!