Ontario Closing Costs Calculator

Typical range: 1.5% to 4% of purchase price. The biggest single line item is Land Transfer Tax (0.5%–3% depending on price and Toronto vs suburb). Legal fees are usually $1,500–$2,000. If your down payment is under 20%, add the 8% PST on the CMHC premium (paid in cash at closing).

CMHC insurance premium is financed into your mortgage — you pay it over the amortization. But the 8% Ontario Provincial Sales Tax on that premium is due at closing in CASH. On a $500,000 mortgage with 5% down, CMHC premium is $20,000; PST on it is $1,600. Many first-time buyers are surprised by this line item.

Costs the seller has already paid in advance that you reimburse them for at closing. Most common: property tax already paid past the closing date (you reimburse the portion covering your ownership), utility credits, condo fee prepayments. Typical range: $1,000–$3,000. Your real estate lawyer calculates the exact number.

Yes — through the Land Transfer Tax rebates. Ontario provincial LTT rebate: up to $4,000. Toronto MLTT rebate (if buying in the 416): up to $4,475. Combined maximum in Toronto: $8,475. On a home priced under $368,000 in Toronto, the rebates fully eliminate LTT.

Some lenders offer "cash-back at closing" mortgages that give you 1–5% of the mortgage balance back at closing, which can offset closing costs. Trade-off: the rate is typically 20–40 bps higher than the standard product. Worth doing the math — sometimes the higher rate over 5 years costs more than the closing costs saved.