Estimate all the costs involved in purchasing a home in Canada. Get a complete breakdown including land transfer tax, CMHC insurance, legal fees, and more.
Complete Breakdown
All closing costs itemized
CMHC Insurance
Calculated automatically
Total Cash Needed
Down payment + costs
0% of purchase price
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Closing costs are the fees and expenses you pay when finalizing a real estate transaction, in addition to your down payment. In Canada, closing costs typically range from 1.5% to 4% of the purchase price, depending on the province and property type.
If your down payment is less than 20%, you'll need mortgage default insurance (commonly called CMHC insurance). The premium ranges from 2.8% to 4% of the mortgage amount and can be added to your mortgage or paid upfront.
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Closing costs typically range from 1.5% to 4% of the purchase price. They include land transfer tax, legal fees ($1,000-$2,500), home inspection ($300-$600), title insurance ($200-$500), property tax adjustments, and moving costs. In Toronto and some Ontario cities, you also pay a municipal land transfer tax.
Land transfer tax is a provincial tax paid when you purchase property. Rates vary by province — Ontario uses a tiered system from 0.5% to 2.5%. Toronto has an additional municipal tax that mirrors the provincial rate. First-time buyers may qualify for rebates up to $4,000 (provincial) and $4,475 (Toronto municipal).
Yes. First-time buyers can access several rebates: Ontario land transfer tax rebate (up to $4,000), Toronto municipal tax rebate (up to $4,475), and the federal First Home Savings Account (FHSA). Some provinces offer additional grants or rebates for first-time purchasers.
While not legally required, a home inspection ($300-$600) is strongly recommended. It can reveal structural issues, electrical problems, plumbing concerns, or roof damage that could cost thousands to repair. Some buyers waive inspections in competitive markets, but this carries significant risk.
Closing costs are due on closing day when ownership transfers. Your lawyer will provide a statement of adjustments showing all costs, and you'll need to provide a certified cheque or bank draft. Some costs like home inspection and appraisal are paid upfront during the buying process.
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