Buyer tools
Toronto land transfer tax and closing cost calculator.
See the cash you’ll need on closing day: land transfer tax, first-time buyer rebates, mortgage insurance tax, legal fees and the rest, in one place.
Cash you'll need on closing day
$0
Down payment $0 plus closing costs $0
| Ontario land transfer tax | $0 |
|---|---|
| Toronto land transfer tax | $0 |
| First-time buyer rebates | $0 |
| PST on mortgage insurance | $0 |
| Legal fees and disbursements | $0 |
| Title insurance | $0 |
| Home inspection | $0 |
| Adjustments | $0 |
| Moving | $0 |
| Closing costs | $0 |
Mortgage insurance of $0 is usually added to your mortgage rather than paid in cash. The 8% Ontario sales tax on it is due on closing.
To see what this home will cost each month, including the mortgage, property tax and upkeep, use our monthly cost calculator.
Estimates only, using 2026 Ontario and City of Toronto land transfer tax rates and standard mortgage insurance premiums. Your lawyer will confirm the final figures.
What’s included
Where the money goes on closing day.
Closing costs usually add a few percent on top of your down payment. These are the parts that matter most.
Land transfer tax
Ontario charges land transfer tax on every purchase, and the City of Toronto charges its own on top. First-time buyers can get back up to $4,000 from Ontario and up to $4,475 from Toronto.
Mortgage insurance tax
With less than 20% down, your lender requires mortgage insurance. The premium is added to your mortgage, but Ontario’s 8% sales tax on it has to be paid in cash on closing.
Legal fees and title insurance
Your real estate lawyer handles the transfer, searches the title and registers your mortgage. Title insurance protects you against problems with ownership records.
Adjustments
If the seller prepaid property tax, condo fees or utilities past closing day, you reimburse them for your share. Your lawyer works out the exact amount.
Questions
About closing costs.
How much are closing costs in Toronto?
Closing costs in Toronto are higher than elsewhere in Ontario because you pay both provincial and municipal land transfer tax. Use the calculator above for your price, then ask your lawyer for a quote on legal fees.
Who qualifies as a first-time buyer?
Generally, you must be at least 18, a Canadian citizen or permanent resident, never have owned a home anywhere in the world, and live in the home within nine months. If your spouse owned a home while you were together, you don’t qualify. Your lawyer applies for the rebates when the sale registers.
Can I add closing costs to my mortgage?
Land transfer tax, legal fees and the sales tax on mortgage insurance are paid in cash on closing. Only the mortgage insurance premium itself is usually added to the mortgage. Lenders want to see that you have this cash on top of your down payment.
When do I pay land transfer tax?
On closing day. Your lawyer collects it from you a few days before and pays it when the transfer is registered.
Are the luxury rates included?
Yes. The calculator uses the City of Toronto rates for homes above $3 million that took effect on April 1, 2026. For a detailed breakdown at those prices, use our land transfer tax calculator.
Buying in Toronto
Know your numbers before you make an offer.
We’ll walk you through every cost on a real purchase, and introduce you to mortgage and legal professionals we trust.
