Mortgage strategy for SickKids paediatric residents, fellows, and attending specialists. Built around the long training timeline and downtown Toronto purchase realities.
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.
The Hospital for Sick Children is in Toronto, Ontario. Affiliation: University of Toronto. Other hospitals nearby: University Health Network, Mount Sinai Hospital, 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.
Can a SickKids fellow qualify for a Toronto mortgage?
Yes. Fellows count as trainees on the program schedule: $225,000 from PGY-3, and $300,000 for Pediatrics in the final year or within 36 months of finishing. A signed staff offer can also count as income. The fellowship salary alone rarely covers Toronto prices; the program figure often does.
Buying on a signed staff offerDo SickKids attending physicians get physician mortgage rates?
Yes. Physician programs set eligibility by credential and stage, not by hospital, so SickKids staff are treated like staff at any other Ontario hospital. The rate you get depends on the lender, your down payment and the size of the mortgage.
Is SickKids covered by all physician mortgage programs?
Yes. Physician programs set eligibility by credential and stage, not by hospital. Residents and fellows enrolled in a Canadian program, and physicians within 36 months of finishing training, qualify the same way at SickKids as at any other University of Toronto teaching site.
What is the closing cost difference for a physician buying near SickKids?
SickKids is on University Avenue, inside the City of Toronto boundary. That means both provincial and municipal land transfer tax apply. On an $850K condo the combined LTT is about $26,950 before first-time buyer rebates. We calculate the full closing figure before any offer.
Closing costs in TorontoCan I use my PLOC for a down payment as a SickKids resident?
Yes, and it is often the right call. Physician programs need at least 10% down, and at least 5% of the price must be your own money; the rest can come from your line of credit or a family gift. The drawn balance still counts against you, as a monthly payment at 5.25% over 15 years, even in deferral.
Read the line of credit guideWhat neighbourhoods make sense for SickKids staff?
Residents and fellows often look at The Annex, Yorkville, Kensington, Chinatown and King West for a short commute. Staff with families often look further out, in Leslieville, High Park, Leaside or the Upper Beaches. Each has a different price band and carrying cost.
