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.