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Mississauga · Peel Region

Mortgages in Mississauga, compared across lenders

We compare banks, credit unions and monoline lenders for your Mississauga purchase, renewal or refinance, and explain the trade-offs in plain English.

We help Mississauga households buy, renew and refinance with banks, credit unions, trust companies and monoline lenders, and we compare the offers for you. In September 2026 the median Mississauga sale was $868,000, across 468 sales (TRREB, checked October 2026). Every mortgage is subject to lender approval; we arrange mortgages for properties in Ontario only.

Mississauga in numbers

These are the latest published figures we could check for Mississauga, each with its source and date. They describe the market, not your mortgage.

Home sales, September 2026

Median sale price
$868,000
Average sale price
$929,600
Sales
468
Months of inventory
4.8

Months of inventory is how long the homes listed for sale would take to sell at the recent pace of sales. Detached homes: 196 sales, median $1,219,000. January to September 2026: 4,127 sales, median $868,000.

Source: TRREB, GTA Market Watch, September 2026, Mississauga row, all home types. Checked October 2026.

Residential property tax rate, 2026

Total rate
1.087901%

Made up of City 0.396141% + Peel Region 0.538760% + education 0.153000%. The rate applies to the assessed value set by MPAC (the Municipal Property Assessment Corporation), not to the price you pay.

Source: City of Mississauga By-law 0061-2026 (2026 tax rates), Schedule A, passed 29 April 2026. Checked October 2026.

Renting, October 2025

Average two-bedroom rent
$2,046 a month
Vacancy rate
3.0%

A year earlier the rent was $1,974 and vacancy 2.5%. The survey covers purpose-built rental apartments in private buildings of three or more units.

Source: CMHC Rental Market Survey, Table 1.0, published 11 December 2025, Toronto CMA (census metropolitan area). Checked October 2026.

Households, 2021 Census

Households that own
70.4%
Median household income (2020)
$102,000

City of Mississauga (census subdivision 3521005): 244,575 households, population 717,961. Income is for 2020, the year before the census.

Source: Statistics Canada, 2021 Census of Population, Census Profile, City of Mississauga (census subdivision 3521005). Checked October 2026.

GO Lakeshore West line to Union Station

Scheduled time
30 min

GO train stations: Clarkson and Port Credit. The time is for the weekday 7:34 a.m. train from Port Credit. From Clarkson, the 7:59 a.m. train takes 35 min.

Source: GO Transit schedule, table 01 (Lakeshore West line), effective 26 October 2026. Checked October 2026.

GO Milton line to Union Station

Scheduled time
32 min

GO train stations: Lisgar, Meadowvale, Streetsville, Erindale, Cooksville and Dixie. The time is for the weekday 6:31 and 7:01 a.m. trains from Cooksville.

Source: GO Transit schedule, table 21 (Milton line), effective 26 October 2026. Checked October 2026.

GO Kitchener line to Union Station

Scheduled time
31 min

GO train stations: Malton. The time is for the weekday 7:04 a.m. train.

Source: GO Transit schedule, table 31 (Kitchener line), effective 26 October 2026. Checked October 2026.

What's different about borrowing in Mississauga

  • Mississauga borders Toronto but is in Peel Region, so a purchase here pays Ontario's land transfer tax only. Our land transfer tax calculator shows how that compares with a Toronto purchase.
  • Mississauga's 2026 residential property tax rate is 1.087901% of the home's assessed value, counting the City, Peel Region and education parts (City of Mississauga By-law 0061-2026, checked October 2026). MPAC sets the assessed value, and it is not the price you pay, so ask for the seller's current tax bill. Lenders count property tax in the housing costs they qualify you on (CMHC debt-service rules, checked October 2026).
  • A two-bedroom apartment in the Toronto census metropolitan area (CMA), which includes Mississauga, rented for $2,046 a month on average in October 2025, up from $1,974 a year earlier (CMHC, checked October 2026). Vacancy was 3.0%. If you rent now, set that rent against a mortgage payment plus property tax, heat and upkeep.
  • In the 2021 Census, 70.4% of households in the City of Mississauga owned their home, and the median household income in 2020 was $102,000 (Statistics Canada, checked October 2026).
  • The GO Lakeshore West line stops at Clarkson and Port Credit. A weekday morning train from Port Credit is scheduled to reach Union Station in 30 minutes (GO schedule effective 26 October 2026, checked October 2026).
  • The GO Milton line stops at Lisgar, Meadowvale, Streetsville, Erindale, Cooksville and Dixie. Weekday morning trains from Cooksville are scheduled to reach Union Station in 32 minutes (GO schedule effective 26 October 2026, checked October 2026).
  • The GO Kitchener line stops at Malton. A weekday morning train from Malton is scheduled to reach Union Station in 31 minutes (GO schedule effective 26 October 2026, checked October 2026). If you will commute, put the fare in your budget next to the mortgage payment.

Outside Toronto you pay Ontario's land transfer tax only — work it out with the land transfer tax calculator. Also useful: Ontario closing costs · down payment rules.

Who we help in Mississauga

We help Mississauga households buy a first home, move up, renew or refinance. We compare banks, credit unions and monoline lenders (lenders that only do mortgages and work through brokers) first.

On a condominium, lenders count half of the monthly fees as a housing cost and review the status certificate. Alternative lenders are the next step when a bank's rules don't fit, at a higher cost. Private money is a short bridge only, and we explain its cost first.

Questions from Mississauga borrowers

Do I pay Toronto's land transfer tax in Mississauga?

No. Mississauga is in Peel Region, so you pay Ontario's land transfer tax only. First-time buyers may qualify for a refund of part of it.

Illustrative, not a quote: on the September 2026 median Mississauga sale of $868,000, Ontario's tax is $13,835, or $9,835 if you qualify for the full $4,000 first-time buyer refund (TRREB median and ontario.ca brackets, checked October 2026).

This is our arithmetic. 0.5% of the first $55,000 is $275, and 1% of the next $195,000 is $1,950. Then 1.5% of the next $150,000 is $2,250, and 2% of the last $468,000 is $9,360.

Your lawyer works out the exact amount at closing.

What should I check before buying a condo in Mississauga?

The monthly fees, which lenders count in your housing costs, and the status certificate, which shows the condominium corporation's finances and any special assessments. Your lawyer reviews it, and we check how the fees affect what you qualify for.

Can I get pre-approved before I start looking in Mississauga?

Yes. A pre-approval sets a price range and usually holds a rate for a set period, subject to lender approval of the property and your final documents.

Nearby: Etobicoke · Brampton · Oakville · Milton

General information for Ontario borrowers, not advice. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722.

Sources

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Talk to a broker about your Mississauga mortgage

Tell us what you're planning for a home in Ontario and a good number to reach you. We call back within one business day, usually sooner. We ask for documents only once we know which ones your mortgage needs.

You can also call us at (416) 371-2077.

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We use these details to call you back about your mortgage, and store them in Canada. If we introduce you to a partner broker, we tell you first and share only what you have given us here. See our privacy policy. Stonefield Mortgage is a trade name of Stonefield Capital Inc., FSRA mortgage brokerage licence #13722. A pre-approval or quote is subject to lender approval.