Home & Commercial Mortgage Services Toronto

Northwood Mortgage is one of the largest brokerage firms in the Greater Toronto Area (GTA). We are proud to offer unrivalled mortgage funding and investment services, whether for your home or for a commercial property, in Toronto – Canada’s largest city.

Toronto is the fifth most populous municipality in North America, and one of the most multicultural cities across the globe, with 2.6 million people. The GTA is home to 6 million people.

Toronto sits in the ‘Golden Horseshoe’ of Southern Ontario, which is densely populated with 8 million people – over one-quarter of the entire Canadian population. The city lies on primarily flat land with no hills or mountains. Actually, the closest mountain is about two hours away, where the city residents escape during the dull winters for some snowboarding, skiing, and a lot more.

Sitting at 43 degrees north latitude, Toronto shares the same temperate climate as Bordeaux, France, and Christchurch, New Zealand in the southern hemisphere. Although the climate in Toronto is partially moderated by the Great Lakes, it is actually more extreme than both Christchurch and Bordeaux, with moderately hotter summers and significantly colder winters – occasional frost quakes and incomprehensibly low temperatures of -30 degrees.

The city thrives the most during the summer and fall seasons when there are lots of activities to do, with all kinds of festivities to celebrate culture, food, and art nearly every weekend.

A Little Background

Still, the City of Toronto offers immeasurable charms. Millions enjoy living or visiting this amazing city, characterized by bright lights, history, culture, and most of all, diversity. Actually, Toronto’s motto is “Diversity our Strength.”

Since the Second World War, Toronto has welcomed millions of immigrants. Chinese, Irish, Scottish, East Indian, Italian, Filipino, German, French, Polish, Portuguese, Jamaican, Jewish, Ukrainian, and Russian are all residing in Toronto.

There are over 140 languages and dialects spoken in the city, which is not surprising considering that about 50 per cent of Toronto residents were born outside Canada. Since these diverse cultures have been in Toronto for decades, new immigrants and tourists fit perfectly in the city, as there is something for everyone, regardless of their tastes or interests.

Living In Toronto

Life in this multi-faceted city is fast paced, which can be a bit overwhelming. But considering its cultural diversity, there are immensely diverse neighbourhoods, cultures, and people, so you are bound to find tons of people and places that suit your interests with a little exploration. Visit the financial centre of the country in Downtown Toronto, for instance, and you will see the diverse neighbourhoods, each with its own unique culture.

In fact, Toronto is consistently recognized as one of the most livable cities in the world by the Mercer Quality of Living Survey and the Economist Intelligence Unit. It has also been named the “Youthful City of the Year.” Basically, Toronto is accepting of all kinds of people, which is evident from the fact that the city has one of the largest LGBT communities.

Of course, the diverse population is a boon to promoting a sense of comfort and belonging for all cultures and minority groups. As a result:

  • Toronto’s library system is the most heavily used in North America. People here love to read. In fact, the World’s Biggest Bookstore was found in the city until 2014. Toronto also hosts the world’s largest literary festival, the International Festival of Authors, which draws authors from every corner of the world. Other national book events include the Toronto Book Awards and multiple events organized by PEN Canada.
  • Toronto boasts the longest life expectancy at birth; plus the number of people living to be 100+ is growing.
  • Over one-third of the population is at least bilingual, which makes city residents brighter than their counterparts in surrounding metropolitan areas.
  • Toronto is a music city, with the first Canadian opera house, three professional orchestras, and numerous legendary rock venues.
  • Toronto boasts one of the most efficient healthcare systems – totally inclusive of all residents – in the world. There’s even a temporary health program for those without provincial residents cards seeking asylum.
  • Over 90 per cent of residents are satisfied and stress-free.

When it comes to settling down, you can choose any neighbourhood, from King West to Queen West to High Park.

The village-type neighbourhood of High Park North comprises moderately priced high-rise apartments and houses. You will find everything you need along the Bloor West Village stretch of road with many colourful shops that give it a sense of community. There are schools, restaurants, supermarkets, cafes, and bars – casual or sophisticated.

For entertainment, try not to get lost in High Park, one of North America’s biggest parks (400 acres), with mile-high trees, energetic rivers, and lush, wild vegetation. The park has soccer fields and baseball diamonds, tennis courts, Chinese gardens, a zoo, and some small animals that have been drawn to the park.

You can also settle down in King West Village, one of the fastest growing neighbourhoods in Toronto, or in one of the neighbourhoods that comprise Midtown Toronto, including Eglinton, Davisville, St. Clair, and Summerhill.

Summerhill and Rosedale are some of the most affluent areas in Toronto, with beautiful large houses and proximity to one of the biggest liquor stores in the city. There are also many thriving parks and tennis clubs, as well as bars, restaurants, and boutique shops for a little indulgence. St. Clair has more nightlife activity with its popular rooftop patio bars at the ‘Scallywags’ where happy locals relax during the scorching summer months.

Davisville is more quiet, but it boasts a diverse cuisine with little Italian, Japanese, Mexican, etc. restaurants. This is also where Toronto residents go for jogging or walking their dogs in the small scattered parks. Some great pubs in the area include Kramer’s, The Twisted Kilt, Fionn McCool’s, The Red Lantern, and Bull & Firkin.

Many newcomers to the city choose to live in the Eglinton area. It is the commercial centre of the midtown area, and has shopping centres, cinemas, gyms, restaurants, bars, and many attractions at a fairly calmer pace.

Conclusion

Housing is a big concern for many, with monthly rent for furnished accommodation measuring 85 square meters (900 sq-ft) costing between C$1,700 and C$2,400. A furnished studio half that size would require rent in the range of C$1,200 to C$1,800.

When you choose to buy your own home in Toronto, or purchase commercial property in the GTA, your mortgage experts at Northwood Mortgage will help you get the financing you need.

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