Cash-to-close calculator

In Toronto you need your down payment plus closing costs of about 3% of the price, because you pay land transfer tax to both the province and the city. This calculator adds it all up for your price, including first-time buyer rebates and mortgage insurance.

By Christian Torok, Broker, Porchlight Realty (RE/MAX Hallmark) · Reviewed

October 22, 2026

Cash you need to close

Closing costs$0

Mortgage amount$0

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Moving costs, and home insurance that starts before you get the keys.
Your deposit, about 5% of the price, is due within 24 hours of an accepted offer. It counts toward your down payment, but you need it in cash early.

How this works. Ontario land transfer tax uses the provincial rates for homes with one or two single-family residences, with a first-time buyer refund of up to $4,000. Toronto's municipal land transfer tax uses the City's rates in effect from April 1, 2026, with a first-time buyer rebate of up to $4,475. Mortgage insurance applies when you put down less than 20% on a home under $1.5 million: the premium is added to your mortgage, and Ontario's 8% sales tax on it is paid in cash on closing.

This is an estimate for planning, not advice. Rebates depend on eligibility (for example, the Ontario refund is prorated when not every buyer qualifies). Confirm your numbers with your lawyer and mortgage broker. Rates reviewed October 2026.

Enter the price and your down payment to see both land transfer taxes, first-time buyer rebates, mortgage insurance and every other cost due on closing, added up to the total you need in the bank.

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Every purchase is different. If you'd like to go over your own numbers and next steps, book a quick discovery call, or call or text me at 416-300-4722.

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