Tool 02
Closing costs and land transfer tax
Ontario and Toronto land transfer tax, rebates and cash to close.
Cash you need on closing day
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Land transfer tax
- Ontario land transfer tax
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- Ontario first-time buyer refund
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- Toronto municipal land transfer tax
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- Toronto first-time buyer rebate
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- Non-Resident Speculation Tax (25%)
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- Total land transfer tax
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Everything else
- Legal, title, inspection, appraisal
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- Adjustments, moving, status certificate
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- PST on mortgage insurance
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- Closing costs
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- Down payment
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Good to know
Ontario and Toronto both charge 0.5% up to $55,000, 1% to $250,000, 1.5% to $400,000, 2% to $2 million and 2.5% above that. Since April 1, 2026, Toronto adds higher brackets above $3 million, from 4.4% up to 8.6% over $20 million.
First-time buyers get up to $4,000 back from Ontario and up to $4,475 from Toronto. That covers all of the provincial tax up to about $368,000 and all of Toronto's up to $400,000, and takes up to $8,475 off anything above.
Lenders want proof you have about 1.5% of the price available for closing costs on top of your down payment. Plan for it before you start bidding.
Estimates for planning only, not a mortgage approval, tax or legal advice. What you enter stays in your browser, or on your account if you're signed in.
Using this tool
How to get the most from it
Closing costs are where budgets quietly break. Run them before you fall in love with a home.
- Land transfer tax is usually the largest cost, and in Toronto it's charged twice: by Ontario and by the city.
- First-time buyers get rebates of up to $4,000 from Ontario and up to $4,475 from Toronto. Tick the box if it applies.
- Leave room for legal fees, title insurance, a home inspection and adjustments such as prepaid property tax or condo fees.
- Cash to close is the down payment plus these costs, and it has to be in your account before closing day.
The approach
With me, you don’t buy with confidence, you close with it.
I'm Nima. My work in commercial and investment real estate has taught me to look beyond the property itself, to the numbers, the risks and the details that matter. I bring that same approach to every residential transaction.