Mortgage broker in Brampton

It matters a lot. In Brampton a basement apartment is legal once it is registered with the City as an additional residential unit, which means a building permit, drawings, and passing building, fire and electrical inspections. Lenders care because most of them will only count rent from a legal unit, and a registered unit also protects your insurance and resale.

If you're buying, we check the City's second-unit registry before you firm up. If you own already, we can help you plan the financing for the work so you're not paying for it on credit cards.

Checked October 18, 2026. https://www.brampton.ca/EN/residents/Building-Permits/second-dwelling/Pages/Two-Unit-Process.aspx

Yes, and in Brampton this is one of the most useful tools we have. On an owner-occupied home with one legal suite, CMHC-insured programs can add up to 100% of the gross rent to your income, so a $1,800 basement rent can make a real difference to what you qualify for. Conventional lenders have their own formulas, usually between 50% and 100%.

Lenders will want the lease or an appraiser's market-rent estimate and proof the unit is legal. We run your numbers with and without the rent so you see the difference. All of it is subject to lender and insurer approval.

Checked October 18, 2026. https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/mortgage-loan-insurance-homeownership-programs/rental-income

It does. A home on the registry has a suite the City has signed off on, so we can usually count the rent and the appraiser can value it as a two-unit home. If the basement is finished but not registered, many lenders will ignore the rent completely, and you may be buying a project you'll need to fix.

Before you make an offer, send us the address. We'll check the registry with your realtor, and if the suite isn't registered we'll show you what you qualify for without the rent, so there are no surprises.

Checked October 18, 2026. https://www.brampton.ca/EN/residents/Building-Permits/second-dwelling/Pages/Two-Unit-Process.aspx

Often, yes. Since January 2025, CMHC and the other insurers have offered a refinance for owners who live in the home and want to add a self-contained suite. It can go up to 90% of the home's value after the work, as long as that value is under $2 million and the total is four units or fewer.

The extra money has to go into the build, it's paid out as the work progresses, and the unit can't be a short-term rental. It's also subject to lender and insurer approval. We'll map out the costs, the future rent and the new payment before you call a contractor.

Checked October 18, 2026. https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/mortgage-loan-insurance-homeownership-programs/refinance https://www.canada.ca/en/department-finance/news/2024/10/mortgage-insurance-rule-changes-to-enable-homeowners-to-add-secondary-suites.html

Brampton buyers pay only the Ontario land transfer tax. There's no extra municipal tax like the one in Toronto. The tax uses provincial brackets, so it rises faster as the price goes up.

If you've never owned a home anywhere, you can get up to $4,000 back, which wipes out the tax on the first $368,000. Our closing-cost calculator gives you the estimate in seconds, and your lawyer confirms the final number. Keep that cash separate from your down payment so closing day isn't tight.

Checked October 18, 2026. https://www.ontario.ca/document/land-transfer-tax/land-transfer-tax-refunds-first-time-homebuyers https://www.ontario.ca/document/land-transfer-tax/calculating-land-transfer-tax

Quite a bit, and it adds up. You can put down as little as 5% on the first $500,000 and 10% on the rest, as long as the price is under $1.5 million. As a first-time buyer you may qualify for a 30-year insured amortization to lower the payment, subject to lender and insurer approval.

You can use your FHSA (up to $40,000 each) and up to $60,000 each from your RRSP under the Home Buyers' Plan, and you can get up to $4,000 back on Ontario land transfer tax. In Brampton we often add a legal basement suite to that plan. Approval depends on your file.

Checked October 18, 2026. https://www.canada.ca/en/financial-consumer-agency/services/mortgages/down-payment.html https://www.canada.ca/en/financial-consumer-agency/services/mortgages/choose-mortgage.html https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/first-home-savings-account/contributing-your-fhsa.html https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan.html https://www.ontario.ca/document/land-transfer-tax/land-transfer-tax-refunds-first-time-homebuyers

Call us before you sign the renewal letter. We usually have more options than people expect. We can shop the renewal against other lenders.

If your mortgage is uninsured and you keep the same balance and amortization, a straight switch to a federally regulated lender doesn't require the stress test. We can also look at whether resetting the amortization, rolling high-interest debt into the mortgage, or counting basement rent would lower your monthly costs. If you've missed payments, a short-term plan can buy you time to get back on track.

Everything is subject to approval.

Checked October 18, 2026. https://www.osfi-bsif.gc.ca/en/supervision/financial-institutions/banks/minimum-qualifying-rate-uninsured-mortgages https://www.canada.ca/en/financial-consumer-agency/services/mortgages/renew-mortgage.html

Yes, when the suite is legal and the program can use the rent. The file still starts with the house. A suite that is not legal is not treated as income. You may qualify subject to lender and insurer approval.

Downtown Brampton, Bramalea, Heart Lake, Springdale, Credit Valley, Mount Pleasant, and Peel Village. They share the Brampton service pages.

Home purchase, refinance, renewal, debt consolidation, self-employed, and private mortgages each have a Brampton page. The other services cover Brampton from the GTA page.