How Much Down Payment Do You Need to Buy in Brampton, Mississauga or Caledon? (2026)

Short answer: The minimum down payment in Canada is 5% of the first $500,000 of the price and 10% of the rest, for homes under $1.5 million. On August 2026 average prices, that is $48,139 for a Brampton townhouse, $77,056 for a Brampton detached home, $24,753 for a Mississauga condo apartment and $99,290 for a Caledon detached home. Putting down 20% avoids mortgage insurance.

Brampton

Mississauga

Caledon

Average prices are from the Toronto Regional Real Estate Board for August 2026. Caledon had only two semi-detached sales that month.

The rules in plain language

• Up to $500,000: 5% down.
• $500,000 to $1.5 million: 5% of the first $500,000 plus 10% of the amount above it.
• $1.5 million and over: 20% down.
• Less than 20% down: the mortgage must be insured. The premium is up to 4% of the mortgage and is added to it. Ontario charges 8% sales tax on the premium, payable in cash at closing.
• Rental or investment property: lenders ask for 20% down.

Where the down payment can come from

• Your savings. Lenders usually ask for 90 days of statements showing the money.
• First Home Savings Account. You can contribute $8,000 a year, up to $40,000, and withdraw it tax-free for a first home.
• RRSP Home Buyers’ Plan. Each first-time buyer can withdraw up to $60,000 and repay it over time.
• A gift from immediate family. The lender will want a signed gift letter confirming it is not a loan.
• The sale of your current home, if you are moving up.

The down payment is not the only cash you need

Lenders also want to see that you can cover closing costs, usually at least 1.5% of the price. The biggest is Ontario land transfer tax: $11,103 on a $731,389 home and $16,886 on a $1,020,556 home. First-time buyers get up to $4,000 of that back. See land transfer tax in Brampton for the full table.

A different route: pre-construction

A new home spreads the cash over time. At one new community in northwest Brampton, townhomes from $629,990 need $10,000 with the offer and reach 10% over about a year, with the balance due when the home is finished in 2028. That gives you two years to save, but your mortgage is approved near closing at whatever rates apply then. Compare both routes in pre-construction vs resale in Brampton.

Once you know your down payment, check the income you need to buy in Brampton and how Brampton compares with Mississauga.

Questions people ask

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

The minimum is 5% of the first $500,000 and 10% of the rest. On the average Brampton detached home at $1,020,556 that is $77,056, and on the average townhouse at $731,389 it is $48,139. Sandeep Pawar, Broker with RE/MAX Gold Realty in Brampton, plans the down payment and closing costs with GTA buyers.

Can I buy a house in Ontario with 5% down?

Yes, if the price is $500,000 or less. Above that you need 5% of the first $500,000 plus 10% of the remainder, up to $1.5 million. Sandeep Pawar of RE/MAX Gold Realty works with a mortgage agent to confirm the numbers for Brampton and GTA buyers.

Can my parents gift me the down payment?

Yes. Lenders accept a gift from immediate family with a signed gift letter stating that it does not need to be repaid. Sandeep Pawar, Broker with RE/MAX Gold Realty in Brampton, helps GTA first-time buyers get the paperwork ready before they make an offer.

*Source: rate-my-agent.com, 2025. Prices: TRREB Market Watch, August 2026. Down payment and mortgage insurance rules are federal rules in effect on October 1, 2026 and can change. Builder deposit terms are from a builder price list as of September 30, 2026. Speak with a licensed mortgage agent about your own situation. This is general information, not financial, mortgage, tax or legal advice. E&OE. Sandeep Pawar, Broker, RE/MAX Gold Realty Inc., Brokerage. Not intended to solicit buyers or sellers already under contract.