Mortgages in Malton
A northeast neighbourhood next to the airport, with older detached homes and townhouses and a strong base of local businesses. Here’s what buying there costs and which rules apply, before you compare lenders with one licensed mortgage professional.
Short answer
Malton is in Mississauga, so Mississauga’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 $1,088 a year per $100,000 of assessed value.
Buying in Malton
A northeast neighbourhood next to the airport, with older detached homes and townhouses and a strong base of local businesses.
Prices are often lower than elsewhere in the city, which appeals to first-time buyers. The area’s many small businesses serve the nearby airport and industrial employers.
What to know about a mortgage in Malton
Older homes in Malton often need updates. A thorough inspection helps you budget, and if you plan to renovate, ask about a purchase-plus-improvements mortgage, which adds the cost of the work to your mortgage up front.
Malton is popular with first-time buyers. Ask about the First Home Savings Account and the Home Buyers’ Plan for your down payment, and Ontario’s land transfer tax refund for first-time buyers.
How NorthMerit can help
Tell us what you’re planning and we’ll connect you with one licensed mortgage professional who compares lenders for you. It’s free, and there’s no obligation.
What it costs to buy a $1,000,000 home in Malton
| 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.
Mississauga rules that apply in Malton
Mississauga’s 2026 residential property tax rate is 1.0879%, about $1,088 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
Ontario’s Planning Act allows up to three units on most serviced residential lots, such as a main home plus a basement apartment and a garden suite, as long as you meet the building code and local zoning details. Source
Mississauga doesn’t license houses you rent out. Rental apartment buildings of two or more storeys with six or more units must register each year, and since September 2026 landlords need a licence before evicting tenants for renovations. 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.
- Minimum down payment (Financial Consumer Agency of Canada)
- Mortgage insurance premiums (CMHC)
- Calculating land transfer tax (Government of Ontario)
- Land transfer tax refunds for first-time buyers (Government of Ontario)
- Additional residential units, up to three per lot (Environmental Registry of Ontario)
- Mississauga property tax rates
- Mississauga: vacant home tax
- Mississauga: rental licensing
Common questions
How much down payment do I need for a home in Malton?
What property tax will I pay in Malton?
Can I add a rental unit to a home in Malton?
Who can help me get a mortgage in Malton?
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