Brampton, ON

Mortgage broker in Brampton

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What does a mortgage cost in Brampton right now?

A typical home in Brampton costs around $950,000. With the federal minimum down payment of $70,000 and default insurance added, the mortgage comes to roughly $915,200 — about $4,884 a month at 4.14% over a 25-year amortization.

Brampton files often involve multi-generational households and self-employed income, both of which need a lender panel wider than a single bank's policy.

Typical Brampton home price: about $950,000.
Minimum down payment: $70,000.
Estimated monthly payment at 4.14% over 25 years: $4,884.
Estimated closing taxes and registration: $15,475.

The Brampton numbers, line by line

Benchmark purchase price: $950,000
Minimum down payment: $70,000
Mortgage before insurance: $880,000
Default insurance premium: $35,200
Total mortgage: $915,200
Monthly payment at 4.14%: $4,884
Land transfer tax (estimate): $15,475

Prices are rounded market estimates and payments exclude property tax, heat and condo fees. Run your own figures in the payment calculator or the land transfer tax calculator, and see today's Ontario rates.

What 8Twelve does for Brampton borrowers

Purchases and pre-approvals for Brampton buyers, including new builds and condos.
Renewals and lender switches at maturity — no penalty, and most lenders cover the legal costs.
Refinancing and equity takeout for renovations, investments or tuition.
Debt consolidation, rolling high-interest balances into one mortgage payment.
Self-employed, new-to-Canada and rental-income files that a single bank's policy would turn down.

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Brampton mortgage questions

How much do I need for a down payment in Brampton?

On a $950,000 home in Brampton — a typical price for the market — the federal minimum down payment is $70,000. That is 5% of the first $500,000 and 10% of the portion above it. Below 20% down the mortgage must be insured, which adds a premium of roughly $35,200 to the balance.

What are mortgage payments like in Brampton?

At 4.14% over a 25-year amortization, a $950,000 purchase in Brampton with the minimum down payment works out to roughly $4,884 a month in principal and interest. Property tax, heat and condo fees are on top of that.

How much is land transfer tax in Brampton?

Ontario's land transfer tax works out to about $15,475 on a $950,000 purchase in Brampton. First-time buyer rebates can reduce this where the province offers them.

Does 8Twelve have mortgage agents licensed in Brampton?

Yes. 8Twelve Mortgage is licensed in Ontario and works with Brampton homeowners and buyers across purchases, renewals, refinances and debt consolidation, with access to more than 65 lenders rather than a single bank's rate sheet.

Is a mortgage broker better than my bank in Brampton?

A bank can only offer its own products. A broker shops the same application across banks, credit unions, monoline lenders and alternative lenders, then presents the best approval. For Brampton borrowers with self-employment income, rental income or a thin credit file, that breadth is usually the difference between an approval and a decline.

More for Brampton homeowners

Brampton homeowners most often ask us about refinancing your mortgage, our renewal guide and consolidating debt into your mortgage. Every city we cover is listed in the mortgage broker directory. Province-wide rules and pricing are on the Ontario mortgage brokers page.

Other services in Brampton

Debt Consolidation in Brampton

Nearby markets

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