Condos for Sale in Sudbury
Under $500K
CREA does not publish an MLS® HPI benchmark covering Sudbury condos, so this page shows no price figure. What it does show is exact: the federal down-payment rules, CMHC premium tiers and Ontario land transfer tax for the <$500K band.
Sudbury condos · <$500K
Current MLS® inventory sent within 1 business hour with today's 3.85% 5-yr fixed rate.
Condos in Sudbury Under $500K
<$500K · 3.85% 5-yr fixed
How much do you need to buy a under $500k condo in Sudbury?
On a $375,000 purchase you need a minimum down payment of $18,750 (5%), plus a mortgage default insurance premium of 4.00% — about $14,250, capitalized into the mortgage rather than paid at closing. Land transfer tax adds $4,100 provincially, reduced by up to $4,000 if you are a first-time buyer. Lenders will qualify you at 5.85% under the B-20 stress test, not the 3.85% contract rate — a difference of $339 per month on the same $300,000 mortgage.
Under $500K in Sudbury: the actual numbers.
Illustrative purchase prices across the <$500K band. Payments are principal and interest at the 5.85% B-20 qualifying rate (today's 3.85% insured 5-year fixed plus 2%) on a 25-year amortization, using the mortgage you would carry at the minimum down payment — with the CMHC premium capitalized where one applies. Canadian semi-annual compounding is used throughout. Property tax, heat and condo fees are excluded; they vary by property and municipality.
| Purchase price | Minimum down | CMHC premium | Ontario land transfer tax | Payment at min. down, 5.85% |
|---|---|---|---|---|
| $250,000 | $12,500 (5%) | $9,500 (4.00%) | $2,225 | $1,558/mo |
| $375,000 | $18,750 (5%) | $14,250 (4.00%) | $4,100 | $2,338/mo |
| $499,999 | $25,000 (5%) | $19,000 (4.00%) | $6,475 | $3,117/mo |
Max amortization
25–30 years
25 years on an insured mortgage, extended to 30 for first-time buyers and newly built homes.
Typical condo
500–1,100 sqft
1–3 bedrooms · condo
Stress-test gap
$339/mo
Difference between the 3.85% contract rate and the 5.85% B-20 qualifying rate.
How this page is sourced.
Price data
CREA does not publish an MLS® HPI series covering Sudbury condos, so no price figure is shown on this page.
Mortgage rules
Department of Finance Canada down-payment minimums, CMHC premium schedule, OSFI Guideline B-20 qualifying rate, and the Ontario Land Transfer Tax Act.
Not published here
Active inventory counts, days-on-market and comparable sales require a licensed MLS® feed. We don't estimate them — a licensed advisor pulls them live for your search.
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Sudbury Condo · <$500K FAQ
What is the minimum down payment on a under $500k home in Ontario?
Federal minimums are 5% on the first $500,000 and 10% on the portion between $500,000 and $1,499,999; at $1,500,000 and above mortgage default insurance is unavailable and 20% down is required. In the <$500K band that works out to $12,500 at $250,000 and $25,000 at $499,999.
How much land transfer tax will I pay on a under $500k purchase in Sudbury?
Ontario land transfer tax on a $375,000 purchase in Sudbury is $4,100. Sudbury does not levy a municipal land transfer tax — only the City of Toronto does. First-time buyers can claim a provincial refund of up to $4,000, worth $4,000 on this purchase price.
What income do I need to qualify for a under $500k home in Sudbury?
Federally regulated lenders qualify you at the greater of your contract rate plus 2% or 5.25% — currently 5.85% against a 3.85% contract rate. On a $375,000 purchase with 20% down (a $300,000 mortgage), principal and interest is $1,554/month at the contract rate but $1,893/month at the qualifying rate — and the qualifying figure is the one your gross debt service ratio is measured against. Property tax, heat and condo fees are additional and vary by property, so speak to a licensed advisor for a figure on your specific file.
Is CMHC insurance required in the <$500K band?
Mortgage default insurance is required whenever you put down less than 20%. At $375,000 the minimum down payment is $18,750 (5%), which puts the premium at 4.00% of the loan — about $14,250, added to the mortgage rather than paid up front. Insured mortgages amortize over 25 years, extended to 30 for first-time buyers and newly built homes.
Get the live Sudbury condo list.
We don't publish inventory counts we can't verify — a licensed Sudbury advisor pulls current MLS® <$500K inventory and today's rate (3.85% 5-yr fixed) within 1 business hour.
Condos in Sudbury Under $500K
<$500K · 3.85% 5-yr fixed
Get pre-approved for a $300,000 mortgage.
Based on a $375,000 purchase with 20% down. We'll qualify you at the 5.85% B-20 rate, not the headline rate, so your pre-approval holds. Compare offers across 50+ Canadian lenders. No hard credit check.