Best mortgage rates in Mississauga.
Today’s best rate in Mississauga is 3.00%. We compare 100+ lenders and lock your best on one application. No credit pull to start.
What will a mortgage cost in Mississauga?
On the average price of $898,510, 20% down and the best 5-year fixed come to about $3,836/month. The smallest legal down payment is $64,851, plus $14,445 of Ontario land transfer tax at closing. Diverse buyer base, deep first-time buyer pool, active condo and freehold markets.
Who has the best mortgage rate in Mississauga?
Marathon Mortgage Corp, at 3.00%. Your own rate depends on your file.
Marathon Mortgage Corp Best5-year variable3.00%Apply
Meridian Credit Union5-year variable3.44%Apply
Radius Financial3-year variable3.55%Apply- Radius Financial3-year variable3.55%Apply
- Marathon Mortgage Corp0.5-year fixed3.64%Apply
- Marathon Mortgage Corp0.5-year fixed3.64%Apply
Desjardins5-year variable3.70%Apply
TD Canada Trust3-year variable3.97%Apply
Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Ontario rates →
What would my payment be on an $898,510 home in Mississauga?
About $3,836/month with 20% down at the best 5-year fixed, or $4,627/month with the minimum down.
| At $898,510 | Minimum down | 20% down |
|---|---|---|
| Down payment | $64,851 | $179,702 |
| CMHC premium | $33,346 | None |
| Mortgage | $867,005 | $718,808 |
| Monthly, 5-yr fixed 4.14% | $4,627 | $3,836 |
| Monthly, 5-yr variable 3.00% | $4,103 | $3,402 |
| Stress-test payment at 6.14% | $5,620 | $4,659 |
25-year amortization, Canadian semi-annual compounding, best rates on today’s board. The stress test qualifies you at the greater of the contract rate plus 2 points or 5.25%. Illustrative, O.A.C. Model your own numbers in the payment calculator.
How we worked out an $898,510 Mississauga purchase
At this price Mississauga buyers can take the insured route: only the slice above $500,000 needs 10% down, which keeps the minimum near 7% of the price. Saving to 20% would take another $114,851 and removes the $33,346 premium.
On the 20%-down loan, variable is $434 a month cheaper than fixed today.
How much land transfer tax is on a Mississauga purchase?
About $14,445 of Ontario land transfer tax on $898,510. All told, the minimum cash to close at this price — before legal fees, title insurance and adjustments — is about $79,296.
Land transfer tax on a Mississauga purchase, explained
Mississauga is outside the City of Toronto, so only Ontario's land transfer tax applies — $14,445 on an $898,510 purchase.
The first-time-buyer refund is capped at $4,000, which here covers only 28% of the tax; a first-time buyer still owes $10,445.
Check other prices in the land transfer tax calculator.
What is the Mississauga market like behind your rate?
The $898,510 figure is Mississauga’s average price for August 2026 (the latest we have sourced), from Mississauga average selling price, TRREB Market Watch.
Our Mississauga guide works through the 3 questions that decide most files here:
- Mississauga is one city and two mortgage markets. The July 2026 TRREB figures make the split plain: Mississauga's all-types average was $899,002 while the average detached sale was $1,256,800.
- The Peel land transfer tax advantage — and where it stops mattering. Buy in Mississauga and you pay Ontario land transfer tax once.
- An illustrative Mississauga file: the building, not the buyer. This is an illustrative composite assembled from the rules above — not a specific client, and not a guaranteed outcome.
How do Mississauga neighbourhoods change the file?
In 2 of these 8 Mississauga pockets the deciding rule is the $1,500,000 insurance ceiling — above it, 20% down is the legal minimum rather than a choice.
Mississauga neighbourhoods, one by one (8)
Streetsville
Village core — older freehold and low-riseOlder village stock beside newer infill makes comparables uneven, and century-adjacent houses raise wiring, plumbing and roof-age conditions that your insurer asks about before your lender does. Prices stay inside the insurable band.
Port Credit
Mid-rise condo on the arterial, older detached behindThe waterfront condo stock is a status-certificate file — reserve fund, special assessments and rental share all move the lender list. The detached streets behind it are appraisal-led and increasingly near the $1.5M ceiling.
Erin Mills
1970s–90s detached and townhouse subdivisionLarge, consistently built pocket with clean comparables and prices well inside the insurable band, so the tiered minimum down payment genuinely applies. Deep owner tenure also makes renewals a large share of local files.
Meadowvale
Planned detached, semi and townhouse communityHomogeneous 1970s–80s build-out. Freehold townhouses under a common-elements corporation carry a monthly fee that counts in your debt-service ratios despite freehold title.
Lorne Park
Executive detached (large mature lots)The one pocket in the city that sits reliably above the $1.5M ceiling — uninsurable, 20% down as the legal minimum, and larger loans drawing tighter ratio and appraisal scrutiny.
Mississauga Valleys
Apartment condo and townhouseThe most affordable band in the city and reliably insurable. Older condo corporations are where reserve-fund adequacy matters most: a pending special assessment can stop a file that your income would otherwise carry easily.
Cooksville
Mixed — high-rise condo and older detachedSquare One-adjacent towers are a corporation review with small-unit and rental-share constraints; the surrounding older detached is an insurable appraisal file. The two need different lenders, not different incomes.
Churchill Meadows
2000s detached, semi and townhouseLate build-out with uniform stock and predictable comparables. Registered secondary suites are common, and rental add-back only applies once the suite is legal — an unpermitted one usually counts for nothing.
This page is the rate-shopping side. For pre-approval strategy, document help and a dedicated advisor, see our Mississauga mortgage broker page.
Mississauga mortgage rates — FAQ
What is the best mortgage rate in Mississauga right now?
The best rate in our 100+ lender network for Mississauga (Ontario) is approximately 3.00% as of Oct 24, 2026. Your own rate depends on your file — income, credit, loan-to-value and property type.
What land transfer tax will I pay in Mississauga?
Ontario's tax only: $14,445 on $898,510, or $10,445 for a first-time buyer.
Which Mississauga neighbourhoods run into the $1.5M insurance ceiling?
Our neighbourhood notes flag Port Credit, Lorne Park. Above $1,500,000 default insurance is unavailable and 20% down is the minimum.
Can I lock a Mississauga rate before I buy?
Yes — most lenders hold a pre-approval rate for 90-120 days, and many honour a lower rate if rates drop before closing.
Lock your best Mississauga rate.
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