Mortgage strategy for Mount Sinai and Sinai Health physicians. Built around the University Avenue academic practice and the downtown Toronto cost base.
A physician program could add
$0
to the home you can buy.
Estimate at 4.49%, stress tested at 6.49%, with 10% down, below the $1.5M insured limit.
Mount Sinai Hospital is in Toronto, Ontario. Affiliation: Sinai Health / University of Toronto. Other hospitals nearby: University Health Network, The Hospital for Sick Children, St. Michael's Hospital and Sunnybrook Health Sciences Centre.
Price: Toronto Regional Real Estate Board, Market Watch July 2026, City of Toronto. Tax: Ontario Ministry of Finance, calculating land transfer tax; City of Toronto, municipal land transfer tax rates and fees; City of Toronto, MLTT rebate opportunities; Ontario, land transfer tax refunds for first-time homebuyers. Rates reviewed August 2026.
Physician mortgages in TorontoHighest purchase price, 10% down, no student debt, 4.49% stress tested at 6.49%, kept below the $1.5M insured limit. Resident pay: PARO-OTH arbitration decision, September 24, 2024, in effect July 2025. The agreement expired June 30, 2026. PARO states its terms, including salary, stay in effect until a new agreement is reached. No 2026 grid had been published when this table was reviewed. Program figures: Physician projected-income program factsheet, September 2023 edition.
What is a projected-income mortgage and how does Mount Sinai residency fit?
A projected-income mortgage qualifies you on a set figure for your stage instead of your resident salary: $185,000 in PGY-1 and PGY-2, $225,000 from PGY-3, and $225,000 to $379,000 by specialty in your final year or within 36 months of finishing. Obstetrics and Gynecology is $300,000 on that chart. A Mount Sinai resident paid $73,367 to $120,082 on the Ontario grid qualifies on the program figure instead.
See the projected income scheduleCan Mount Sinai attending physicians get 10% down on a $2M home?
Not with 10% down. Insured mortgages stop at a $1.5M purchase price, so a $2M home needs at least 20% down. Physician programs let part of that come from borrowed funds such as your line of credit, as long as at least 10% of the price is your own money.
Is Sinai Health eligible for all physician mortgage programs?
Yes. Physician programs set eligibility by credential and stage, not by hospital, so Sinai Health residents and staff qualify the same way as UHN or SickKids staff.
How does incorporation affect mortgage qualification for a Sinai Health attending?
Most lenders read only the salary or dividends you pay yourself. Lenders that also read the corporation see more of what you actually earn, which usually raises what you qualify for. We work with your accountant on how salary and dividends are set up before you apply.
How lenders read a corporationWhat is the typical down payment source for a Mount Sinai fellow?
A mix of savings, a family gift and the physician line of credit is common. At least 5% of the price must be your own money; the rest can be gifted or borrowed. We map the full structure before you make an offer.
Buying on a signed staff offerCan I qualify for a mortgage with maternity leave during residency?
Often, yes. Lenders look at your program confirmation, your stage of training and your expected return date. How each lender treats a leave during residency differs, so we confirm the rule with the lender before you apply.
See the projected income schedule
