Closing Costs Calculator
Ontario Land Transfer Tax, Toronto Municipal LTT, first-time buyer rebates (where eligible), and the standard fee lines (legal, title insurance, adjustments). Adds up the cash you actually need on closing day, on top of the down payment.
Estimated cash needed for closing
$13,975
On a $750,000 purchase, that's about 1.86% of the price. Most lenders want to see at least 1.5% sitting in your account on top of the down payment.
The breakdown
Ontario Land Transfer Tax | $11,475.00 |
Legal fees | $1,800.00 |
Title insurance | $400.00 |
Other adjustments + disbursements Property tax adjustment, registrations, sundry | $300.00 |
| Total | $13,975.00 |
Plan for cash on closing day
Your down payment plus closing costs need to be liquid (or readily transferable) by closing. Lenders verify this 60 to 90 days out. The most common “gotcha” isn't the cost itself, it's waiting too long to move funds out of locked accounts or RRSPs.
What this calculator misses
New construction has GST/HST implications and a possible new-housing rebate. Properties outside Ontario use different LTT schedules. If the file involves a foreign buyer, a non-resident speculation tax may apply on top of LTT. Your lawyer flags those at closing anyway, but the strategy call gets ahead of them.
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