Cash to close calculator
Down payment plus land transfer tax, sales tax on the insurance premium, legal fees and the rest, for your city.
Cash you need on closing day$58,040$40,000 down + $18,040 closing costs
| Item | Amount |
|---|---|
| Land transfer tax / registration fees (after first-time relief) | $10,591 |
| Provincial sales tax on the mortgage insurance premium | $2,050 |
| Legal fees and disbursements | $1,800 |
| Home inspection | $550 |
| Title insurance | $350 |
| Statement of adjustments (prepaid tax, utilities) | $1,200 |
| Moving | $1,500 |
| Closing costs | $18,040 |
- Land transfer tax, after rebates
- $10,591
- Insurance premium (added to the loan, not cash)
- $25,620
- Sales tax on the premium (cash)
- $2,050
- Closing costs as a share of price
- 2.8%
Ontario's refund requires citizenship or permanent residence, occupancy within 9 months and no prior home ownership anywhere (spouse included while a spouse).
Ontario and Toronto first-time relief is usually applied at registration by your lawyer; otherwise claim it within 18 months.
Estimate, not advice. Educational estimate only, not financial, mortgage, tax or legal advice. Lenders, insurers and governments set their own rules and can change them; confirm with a licensed professional before you decide.
Cash to close $58,040: $40,000 down plus $18,040 of closing costs (2.8% of the price).
Assumptions & sources
Assumptions
- Land transfer tax, first-time rebates, mortgage insurance and sales tax on the premium come from the shared MITEY engines, with the rules in force on 2026-04-01.
- Legal, inspection and title insurance are typical figures; replace them with your quotes. The premium is added to the mortgage; only its sales tax (Ontario, Quebec, Saskatchewan) is due in cash.
Sources
- Government of Ontario — Land transfer tax: calculating land transfer tax (effective April 22, 2026). Checked .
- Government of Ontario — Land transfer tax refunds for first-time homebuyers (effective February 10, 2026). Checked .
- City of Toronto — Municipal Land Transfer Tax (MLTT) rates and fees (effective April 7, 2026). Checked .
- Toronto City Council — 2025.EX28.1 — MLTT graduated rates above $3M effective 2026-04-01 (effective December 17, 2025). Checked .
- City of Toronto — MLTT rebate opportunities (first-time purchasers) (effective December 18, 2025). Checked .
- CMHC — Homeowner mortgage loan insurance — Purchase. Checked .
- CMHC — CMHC Home Start (30-year amortization). Checked .
- Department of Finance Canada — Boldest mortgage reforms in decades come into force today (effective December 15, 2024). Checked .
- Government of Ontario — Retail sales tax: insurance and benefits plans (8%) (effective September 18, 2026). Checked .
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