It is not complicated to find a new condo in Mississauga’s downtown core, but for those who are looking for one, affordability has been a concern.

This is due to the latest limitations placed on lending by the federal government, which have made obtaining mortgage for condo purchases tougher. Pre-approvals given to interested purchasers a few years ago are in danger of becoming worthless, a problem which may result in the loss of their deposits.

Getting a mortgage for Condo has its challenges. Stringent standards make it hard to qualify for a condominium mortgage loan, and loan costs may be elevated on a condo than for other types of property. Typically, for example, loan interest rates are higher for condos than for single-family houses.

We will assist you settle on your mortgage payment and allow you to envisage your amortization schedule. Our mortgage calculator also lets you test out manifold down payment scenarios and calculate your land transfer tax.