Double Car Garage Townhomes in Brampton: What $629,990 Buys at Cornerstone
A freehold townhome in Brampton with a double car garage from $629,990. How the Liam at Cornerstone is laid out, who it suits and what to check.
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The schedule
| When | Townhomes | Detached homes |
|---|---|---|
| With the offer | $10,000 | $25,000 |
| 30 days | $10,000 | $20,000 |
| 90 days | $10,000 | $20,000 |
| 150 days | $10,000 | $20,000 |
| 180 days | $10,000 | $20,000 |
| 365 days | Balance to 10% | Balance of 10% |
From the builder's price lists dated September 29, 2026. The agreement of purchase and sale is the document that governs, so confirm the schedule there.
Example 1: the Liam townhome at $629,990
Ten percent of $629,990 is $62,999. You pay $50,000 in five instalments over the first 180 days, then about $12,999 at 365 days.
Example 2: the Joey detached at $1,049,990
Ten percent of $1,049,990 is $104,999. The first five payments add up to $105,000, so they cover the 10% on their own. On a higher-priced model such as the Juliet at $1,279,990, ten percent is $127,999 and about $22,999 is left for the 365-day payment.
How the deposit is protected
New freehold homes in Ontario are covered by Tarion's deposit protection. If the builder cannot complete the sale, for example because of bankruptcy, Tarion covers the deposit up to a limit:
- Homes priced at $600,000 or less: up to $60,000.
- Homes priced above $600,000: 10% of the purchase price, to a maximum of $100,000.
A 10% deposit on a Cornerstone townhome falls inside that limit. On the detached homes, 10% is slightly above $100,000, so a small part of the deposit sits above the cap. Ask your lawyer how money paid for upgrades is treated as well.
Register your purchase with Tarion within 45 days
Since January 1, 2026, buyers of new freehold homes are asked to register their purchase with Tarion within 45 days of signing the agreement. Buyers who register in time qualify for the maximum deposit coverage. Buyers who register late, or not at all, may qualify for less. It takes a few minutes on Tarion's website, and your lawyer or your agent can do it with you.
Planning the cash
- Deposits come from savings, not the mortgage. Your mortgage only funds on closing.
- Keep a record of every payment. Cheques are made payable as the agreement directs. Keep copies and receipts.
- Get a mortgage pre-approval early. Builders usually ask for one within a set number of days of signing.
- Budget for closing costs separately. See our closing costs checklist.
The full schedule is also on the price list page.
Questions and answers
What is the deposit on a Cornerstone townhome in Brampton?
$10,000 with the offer, then $10,000 at 30, 90, 150 and 180 days, and the balance to 10% of the purchase price at 365 days, according to the builder's price lists dated September 29, 2026.
What is the deposit on a Cornerstone detached home?
$25,000 with the offer, then $20,000 at 30, 90, 150 and 180 days, and the balance of 10% at 365 days.
Is my deposit protected if the builder does not finish the home?
New freehold homes in Ontario have Tarion deposit protection: up to $60,000 on homes priced at $600,000 or less, and 10% of the price to a maximum of $100,000 on homes priced above $600,000. Register your purchase with Tarion within 45 days of signing to qualify for the maximum coverage.
Can I pay the deposit from my mortgage?
No. The mortgage funds on closing. Deposits are paid from savings or other funds during the first year, on the dates set out in the agreement of purchase and sale.
Last checked October 4, 2026. General information only, not legal, tax or financial advice. Prices and builder details can change without notice.
