ReverseMortgageMississauga.ca walks Streetsville homeowners 55 and older through how a reverse mortgage in Streetsville works, from the prices of homes that sold there in 2026 to the City’s rules for adding a unit for family. A reverse mortgage lets you borrow against your home with no required monthly mortgage payments. The property taxes, home insurance and upkeep remain your bills.
“The Village in the City”
Streetsville was settled in 1819, became a village in 1858 and a town in 1962, and joined Mississauga in 1974 (Wikipedia, Streetsville). It still calls itself “The Village in the City”, and Queen Street keeps the look of a small-town main street (same source).
The Bread and Honey Festival dates from 1973, and Streetsville GO puts the village on the Milton line (same source).
What Streetsville homes sold for in 2026
From April to June 2026, TRREB reported 17 detached sales in Streetsville with a median price of $1,225,000, 7 condo townhouse sales with a median of $795,000, and 3 semi-detached sales with a median of $945,000 (TRREB Community Market Report, Mississauga, 2026 Q2). That is a small number of sales, so a single unusual home can move a median.
Across all of Mississauga, the median price of detached homes that sold in September 2026 was $1,219,000 (TRREB Market Watch, September 2026). The measures differ, one quarter in Streetsville against one month across the city, but they point to Streetsville houses selling close to the city’s typical detached price.
Room on the lot: Mississauga’s rules for a second or third unit
Since November 10, 2023, Mississauga’s zoning has allowed up to three units on a detached, semi or townhouse lot without a rezoning (City of Mississauga, notice of passing). The two added units can be a basement apartment, a garage conversion, an addition or a garden suite. Only one garden suite is allowed per lot (City of Mississauga, additional residential units).
The City has made the paperwork lighter:
- Free pre-approved garden suite plans: a studio of about 40 square metres (430 square feet) or a one-bedroom of about 55 square metres (600 square feet). Finishes can change, but the layout can’t, and a site plan and grading plan are still needed (City of Mississauga, June 4, 2024).
- Fees refunded: the building permit fee on a second or third unit is refunded by cheque once inspections are done, and those units pay no City or Region development charges. A school board charge may still apply (Gentle Density Table of Incentives, April 2026).
- Free registration: every second unit must be registered with the City, at no cost (City of Mississauga, registering a second unit).
A fourth unit, such as a fourplex, is treated differently. Its permit fee is refunded, and the City’s development charge and parkland fee (a fee the City can charge new housing for parks) can be waived under conditions such as a 25-year rental agreement, but Region, GO and school board charges are payable (Gentle Density Table of Incentives).
A reverse mortgage can pay the builder while you keep living in the main house. The full picture is in garden suites and basement apartments in Mississauga.
Example: a garden suite for a grandchild
For example, take an illustrative widower, 70, in a Streetsville detached house worth $1,225,000, the median price of Streetsville detached homes that sold from April to June 2026. He has no mortgage. His granddaughter has started work nearby and wants to live close to him, and he would like the company.
At 70, he could borrow up to about 52.85% of $1,225,000, which is about $647,000. Say the builder’s price for a one-bedroom garden suite on the City’s free plan is $200,000 (an amount chosen for this example only, not a price guide). He takes $200,000 and leaves about $447,000 unused, with no interest charged on it.
He has no required monthly mortgage payments, and he keeps paying his property taxes, home insurance and upkeep. The City refunds the building permit fee on the suite once inspections are done, and the suite needs its own address, which costs $81.90 plus HST. The most he or his estate can ever owe is the fair market value of the home when the mortgage becomes due, provided the property taxes, insurance and upkeep have been kept up. That limit is typically called the no negative equity guarantee.
Staying in Streetsville for the long run
A garden suite is one plan; there are others. A reverse mortgage can also pay off a mortgage you still carry, or pay for accessibility renovations such as a main-floor bathroom. If you are 65 or older and receive the Guaranteed Income Supplement, read about Mississauga’s property tax rebate for seniors as well.
Richard Hopkins, Mortgage Broker, can compare every reverse mortgage lender in Canada for a garden suite plan like the widower’s before any builder is hired, then send the best deal for your home and goals by email. A Streetsville homeowner pays nothing for that help, since lenders pay the brokerage after the mortgage funds.
What Streetsville homes are worth, and what that means
Typical values: TRREB Community Market Report, Mississauga, 2026 Q2. The amounts are ceilings on the market's highest-lending products, rounded to the nearest $1,000, before anything owing is paid off. A lender's own appraisal sets the real figure.
From April to June 2026, the median price of homes that sold in Streetsville was $1,225,000 for detached houses (17 sales), $945,000 for semis (3 sales) and $795,000 for condo townhouses (7 sales). These come from a small number of sales, so treat them as a rough guide. At 65, up to 50.55% means about $619,000 on the detached median and about $402,000 on the condo townhouse median. At 75, up to 57.75% means about $707,000 and about $459,000.
Around Streetsville
The help is the same in every corner of Streetsville. Here are some of the pockets and nearby communities it covers.
- Meadowvale
- Meadowvale Village
- Churchill Meadows
- Erin Mills
- Erindale
Landmarks
- Queen Street, Streetsville's historic main street
- Streetsville GO station (Milton line)
- The Bread and Honey Festival
- The Credit River
How the help reaches you in Streetsville
Streetsville homeowners hear from Richard Hopkins, Mortgage Broker, by email first, then by phone or video call, and relatives can be included on the messages. An appraiser visits the house itself, while independent legal advice means a trip to your own lawyer's office: Queen Street and Britannia Road lead out of the village, trains leave Streetsville GO on the Milton line, and MiWay is free at 65 with a senior PRESTO card (City of Mississauga, MiWay fares).
How Streetsville homeowners use a reverse mortgage
- Adding a garden suite or apartment: Pay for a garden suite or basement apartment from your home's value, for family, a caregiver or a tenant.
- Still paying a mortgage: Your current mortgage is paid off at closing, and there are no required monthly mortgage payments after that.
- Renovations to stay home: Pay for a walk-in shower, a stair lift or a main-floor bedroom from your home's value, and keep living there.
- Condo owners: Your condo apartment or condo townhouse can qualify, with no required monthly mortgage payments while you live there.