Mortgages in Castlemore
An eastern area of larger detached homes on bigger lots, close to Vaughan and Highway 427. Here’s what buying there costs and which rules apply, before you compare lenders with one licensed mortgage professional.
Short answer
Castlemore is in Brampton, so Brampton’s tax rates and Ontario’s rules apply. On a $1,000,000 home you’d need at least $75,000 down and $16,475 in land transfer tax ($12,475 for a first-time buyer). Property tax runs about $1,253 a year per $100,000 of assessed value.
Buying in Castlemore
An eastern area of larger detached homes on bigger lots, close to Vaughan and Highway 427.
Homes here are among the largest in Brampton, often on bigger lots. Buyers are usually trading up and need larger mortgages, and many homes are home to multi-generational families.
What to know about a mortgage in Castlemore
Larger homes and lots in Castlemore mean bigger mortgages. Homes priced at $1.5 million or more need at least 20% down, and properties on wells, septic systems or acreage can need extra checks before a lender approves them.
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What it costs to buy a $1,000,000 home in Castlemore
| Repeat buyer | First-time buyer | |
|---|---|---|
| Minimum down payment | $75,000 | $75,000 |
| Mortgage insurance (added to the loan) | $37,000 | $37,000 |
| Sales tax on insurance (cash) | $2,960 | $2,960 |
| Ontario land transfer tax | $16,475 | $12,475 |
| Cash at closing | $94,435 | $90,435 |
Example price, not a local average. Minimum down payment and a 25-year amortization; legal fees, title insurance and adjustments are extra.
Brampton rules that apply in Castlemore
Brampton’s 2026 residential property tax rate is 1.2534%, about $1,253 a year for every $100,000 of assessed value. Source
Peel Region’s proposed vacant home tax has been on hold since July 2023, so there isn’t one in Mississauga or Brampton. Source
Basement apartments and other additional units are allowed, but they must be registered with the City before anyone moves in. Source
If you rent out one to four units in a home, Brampton requires a free yearly Residential Rental Licence. Since January 2026 it applies in every ward. Source
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 Castlemore?
What property tax will I pay in Castlemore?
Can I add a rental unit to a home in Castlemore?
Who can help me get a mortgage in Castlemore?
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