Ontario Closing Cost Calculator 2026
Complete itemized breakdown of every closing cost when buying in Ontario — from land transfer tax to legal fees, CMHC PST, and adjustments. No surprises on closing day.
Complete Guide to Ontario Closing Costs (2026)
Closing costs are the mandatory upfront expenses paid on closing day in addition to your down payment. In Ontario, buyers should budget 1.5% to 4% of the purchase price — a figure that catches many first-time buyers off guard when they need to produce the funds.
Land Transfer Tax is typically your largest single closing cost. Toronto buyers face both the provincial LTT and a second Municipal LTT, nearly doubling the tax burden. First-time buyers in Ontario receive up to $4,000 off provincial LTT and an additional $4,475 off Toronto MLTT.
CMHC PST is the hidden trap many buyers miss: if your down payment is under 20%, Ontario charges 8% PST on the CMHC insurance premium — and this PST cannot be financed. It must be paid in cash at closing. Budget for it separately.
Ask specifically for a quote covering both the professional fee and all disbursements (title search, registration, government searches). A low advertised base fee often excludes $400–$600 in disbursements. Budget $1,200–$2,000 all-in for a standard purchase.
This bears repeating: both the down payment and all closing costs are due on closing day. A buyer putting 10% down on a $700,000 home needs $70,000 plus another $18,000–$25,000 in liquid funds — all on the same day. Never invest closing cost funds in volatile assets.
Ontario Closing Costs — Frequently Asked Questions
Usually 1.5%–4% of the purchase price — mostly land transfer tax, plus legal fees, title insurance, a home inspection, and adjustments. On a $700,000 home that's roughly $10,000–$28,000, with land transfer tax the largest piece.
A marginal sliding scale from 0.5% to 2.5% of the price. Buyers in the City of Toronto pay a municipal land transfer tax on top, which roughly doubles the amount.
Yes — up to $4,000 off the provincial land transfer tax, and up to an additional $4,475 off the Toronto municipal land transfer tax.
Typically $1,500–$2,500 including the lawyer's fee and disbursements (title search, registration, and software charges).
Most lenders require it. It's a one-time cost of about $250–$400 that protects against title defects and fraud. See our Ontario closing costs guide.
The cash requirement people miss entirely
If your down payment is under 20% you pay mortgage default insurance, and the premium is normally added to your mortgage rather than paid at closing. But Ontario charges 8% provincial sales tax on that premium, and the tax must be paid in cash at closing.
On a $400,000 mortgage with 10% down that tax alone can exceed $1,000 — money that appears on the closing statement and cannot be financed. It is the most commonly forgotten line in an Ontario purchase, and it arrives at exactly the point where buyers have least flexibility.
Adjustments: the number that changes with your closing date
Ontario municipalities bill property tax for the calendar year. If the seller has already paid beyond your closing date, you reimburse them for the days you will own the home. Close in July on a $5,000 annual bill and you owe roughly $2,300 at the table; close in February and the adjustment may run in your favour.
The same applies to prepaid condo fees and, on a home with an oil or propane tank, the fuel remaining in it — sometimes several hundred dollars. None of these are negotiable; they simply settle who paid for what. But they do mean your cash requirement depends materially on when you close, which is worth knowing while the closing date is still being agreed.
Getting a legal quote you can rely on
Ontario real estate lawyers typically quote $1,200–$2,500, and the quote is often the fee alone. Disbursements — title search, registration, software charges, couriers and the title insurance premium — are billed separately and can add several hundred dollars.
Ask for the all-in figure including disbursements and HST. A $1,200 quote and a $1,700 quote often land within $100 of each other once everything is counted, and the cheaper headline is sometimes the more expensive lawyer. Title insurance (roughly $250–$500, one-off) is effectively mandatory since lenders require it, and in Ontario it has largely replaced the older survey-and-municipal-compliance route.
Situational costs worth checking
- HST on new builds — 13% on newly built or substantially renovated homes; resale is exempt. Builder prices normally quote HST-included with the New Housing Rebate assigned, which assumes you will live there. Buying new as a rental means paying the HST up front and rebating separately.
- Status certificate — $100 plus HST for a condo, capped by law. It is how you learn whether the reserve fund is healthy or a special assessment is coming.
- Non-Resident Speculation Tax — substantial, where the buyer is not a citizen or permanent resident.
- Home inspection — $450–$700, and the best-value spend in the transaction on a resale home.
Budget 1.5%–4% of the purchase price in cash beyond your down payment, toward the upper end inside Toronto because of the second municipal land transfer tax. Full detail in our Ontario closing costs guide.