What is a mortgage in Canada?

A mortgage is a loan used to buy a home in Canada. You make a down payment and repay the rest over time with interest.

How do mortgage payments work?

Mortgage payments include principal and interest. Over time, more of your payment goes toward the principal.

What affects your mortgage payment?

Your payment depends on the mortgage amount, interest rate, and amortization period.

Closing Costs and Land Transfer Tax Calculator

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Closing Costs & Land Transfer Tax Calculator

Estimate land transfer tax, first-time buyer rebates, and typical closing costs across Canada.

Purchase Price

Province

City / Region

Buyer Options

First-time home buyer

Optional Estimates

Legal/title Appraisal Inspection

Estimated total closing costs

$0 – $0

This is an estimate. Your final amount can vary based on your lawyer, lender, title insurance, adjustments, and property details.

Provincial transfer tax

Based on the province selected.

$0

Legal/title fees

Lawyer fees, title insurance, and registration can vary.

$1,500 – $2,500

Appraisal fee

May be required by your lender.

$300 – $600

Why this is a range: land transfer tax is formula-based, but closing costs can change based on your lawyer’s fees, lender requirements, title insurance, appraisal needs, property tax adjustments, condo status, and final purchase details.

Before you make an offer

Closing costs are only one part of the home-buying math.

Once you know how much cash you may need at closing, use the next calculators to check your monthly payment, full ownership cost, and whether buying still makes sense compared to renting.

Next step

Mortgage Payment Calculator

Estimate your monthly mortgage payment using the purchase price, down payment, rate, and amortization.

Calculate monthly payment

Full budget

Home Ownership Cost Calculator

Add mortgage payment, property tax, insurance, utilities, condo fees, and other monthly costs.

Calculate ownership cost

Compare

Rent vs Buy Calculator

Compare the cost of renting against buying, including monthly costs and upfront cash needed.

Compare rent vs buy

What if?

Dual Scenario Mortgage Calculator

Compare two purchase prices, rates, down payments, or mortgage options side by side.

Compare scenarios

How much are closing costs in Canada?

Many buyers budget around 1.5% to 4% of the purchase price for closing costs. The exact amount depends on the province, city, land transfer tax, legal fees, lender requirements, and property type.

What is included in closing costs?

Common closing costs can include:

Land transfer tax or property transfer tax
Municipal land transfer tax, if applicable
Legal fees and title insurance
Appraisal fees
Home inspection fees
Property tax, utility, or condo fee adjustments

Do first-time home buyers pay land transfer tax?

Some first-time home buyers may qualify for a rebate, refund, or exemption. For example, Ontario and Toronto have first-time buyer land transfer tax rebates, while British Columbia has a first-time buyer property transfer tax exemption for eligible purchases.

Does Toronto have extra land transfer tax?

Yes. Toronto buyers may pay both Ontario Land Transfer Tax and Toronto Municipal Land Transfer Tax. This is why closing costs in Toronto can be higher than in many other Ontario cities.

Can closing costs be added to the mortgage?

Usually, buyers should be prepared to pay most closing costs upfront. Some costs may be handled differently depending on the lender, but land transfer tax, legal fees, and adjustments are commonly paid at closing.

What should I calculate after closing costs?

After estimating closing costs, the next step is to calculate your monthly mortgage payment and your full cost of owning the home. Closing costs help you understand the cash needed upfront; monthly ownership costs help you understand whether the home fits your budget long term.

What this means

Closing costs are the extra costs you pay when buying a home.

Your down payment is not the only cash you may need. Most buyers also need money for land transfer tax, legal fees, title insurance, appraisal fees, home inspections, and possible property tax adjustments. These costs can change based on your province, city, lawyer, lender, and property type.

Land transfer tax
Legal & title fees
Appraisal or inspection

Simple rule: before making an offer, estimate your closing costs and then check your monthly payment and full ownership cost. This helps you avoid being surprised after your offer is accepted.

Closing cost searches buyers often make

Closing costs can change by province, city, home price, and buyer type. These searches help buyers understand land transfer tax, first-time buyer rebates, and cash needed before closing.

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Tip: after estimating your closing costs, use the mortgage payment calculator and home ownership cost calculator to understand the full cost of buying the home.