Closing Costs Calculator for Ontario Home Buyers
The down payment is only part of the cash you need on closing day. This adds up land transfer tax, legal fees, insurance and the smaller items people forget, so nothing surprises you at the lawyer's office.
Your purchase
Where is the home?
Property
Adjust the estimates
Because your down payment is under 20%, mortgage default insurance of about is added to the mortgage itself, not paid in cash. Only the Ontario sales tax on it is due at closing, and it's in the list above.
What's not in here
- Your realtor: the seller usually pays commission on a purchase.
- Home insurance: required by the lender before funding; arranged separately.
- HST on a new build: normally included in the builder's price with rebates assigned to the builder; confirm in your agreement.
- Condo status certificate, well/septic tests, survey: ask your lawyer if they apply.
Send me the number
Lenders typically want to see about 1.5% of the price set aside for closing, over and above the down payment. If the total above worries you, talk to me before you make an offer, there are usually options. Not pre-approved yet? Start with the document checklist.
Estimates only, for planning. Land transfer tax uses current Ontario and City of Toronto rates and first-time buyer rebates; insurance premiums use current standard CMHC/Sagen/Canada Guaranty rates for 25-year amortizations. Legal, inspection and other fees are typical ranges; your quotes will differ. Not a mortgage offer; all mortgages are subject to lender qualification and approved credit (O.A.C.). Melod Nawabi, Mortgage Agent (Level 1), Licence ON-M26000429 · Pineapple Financial Inc., Brokerage Licence #12830.