Mortgages in Painswick
A south-east Barrie area of newer detached homes and townhouses popular with families. Here’s what buying there costs and which rules apply, before you compare lenders with one licensed mortgage professional.
Short answer
Painswick is in Barrie, so Barrie’s tax rates and Ontario’s rules apply. On a $600,000 home you’d need at least $35,000 down and $8,475 in land transfer tax ($4,475 for a first-time buyer).
Buying in Painswick
A south-east Barrie area of newer detached homes and townhouses popular with families.
Mostly built from the 1990s onward, it’s popular with families and commuters using Highway 400. Many homes are newer detached houses and townhouses.
What to know about a mortgage in Painswick
If you’re buying new construction in Painswick, plan for builder deposits paid in stages and closing dates that can move. Your mortgage approval needs to be ready, or renewable, for the actual closing date, and the final price can include adjustments you won’t see in the purchase price.
How NorthMerit can help
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What it costs to buy a $600,000 home in Painswick
| Repeat buyer | First-time buyer | |
|---|---|---|
| Minimum down payment | $35,000 | $35,000 |
| Mortgage insurance (added to the loan) | $22,600 | $22,600 |
| Sales tax on insurance (cash) | $1,808 | $1,808 |
| Ontario land transfer tax | $8,475 | $4,475 |
| Cash at closing | $45,283 | $41,283 |
Example price, not a local average. Minimum down payment and a 25-year amortization; legal fees, title insurance and adjustments are extra.
Barrie rules that apply in Painswick
Additional units are allowed but must be registered with the City before anyone moves in. Source
Lenders can count part of the rent from a legal unit toward your income, and some will use the expected rent when you buy. A unit that isn’t legal or registered where required may not count, and can complicate your insurance.
Sources
We checked these figures against official sources in October 2026. Rules and rates change, so confirm the details with your mortgage professional, lawyer or the source before you rely on them.
Common questions
How much down payment do I need for a home in Painswick?
What property tax will I pay in Painswick?
Can I add a rental unit to a home in Painswick?
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