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BuyClosing costs calculator

What will closing day actually cost?

Coldwell Banker Summit Realty, Brokerage · Updated October 2026

Enter your numbers for an instant estimate of land transfer tax, first-time buyer refunds, legal fees, inspection and title insurance. No sign-up, no email.

Your details

Your estimated closing costs

$23,975

About 2.66% of the purchase price

First-time refunds save you $8,475

  • Land transfer tax (provincial)$14,475
  • Land transfer tax (Toronto MLTT)$14,475
  • First-time buyer LTT refund− $8,475
  • Lawyer fee$2,000
  • Home inspection$550
  • Title insurance (assumed)$350
  • Disbursements (assumed)$600

Estimates only, not legal or tax advice. Your real estate lawyer confirms the final figures.

Line by line

What's in your total

Each line we estimate, and why. Typical ranges, not quotes.

  • Biggest cost

    Land transfer tax (LTT)

    Tiered by price. Toronto buyers pay a second, municipal tax on top. First-time buyers can get up to $8,475 back when buying in Toronto.

  • One-time

    Title insurance

    A one-time premium, often about $300–$500, that protects you against title defects, fraud, encroachments and unknown liens. Many lenders require it.

  • Legal

    Real estate lawyer

    Often $1,500–$2,500. Searches title, calculates LTT, prepares closing documents, moves the funds and registers the deed. Fees vary by firm.

  • Upfront

    Inspection and disbursements

    Inspection: often $400–$700. Disbursements (title search, registration, courier, copies): often $300–$700.

FAQ

Closing costs, explained

What are closing costs?

Everything you pay on top of the purchase price to actually close the deal: Land Transfer Tax, real estate lawyer, title insurance, home inspection, mortgage appraisal, and small administrative disbursements. Expect 1.5%–4% of the purchase price.

How is Ontario's Land Transfer Tax calculated?

Tiered: 0.5% up to $55K, 1.0% to $250K, 1.5% to $400K, 2.0% to $2M, 2.5% above. First-time buyers get up to $4,000 back. In Toronto a parallel Municipal LTT applies on top — with a $4,475 first-time rebate.

Does the first-time buyer rebate cover the full LTT?

It covers up to $4,000 provincial + $4,475 Toronto. On a $500K home in Toronto that wipes out almost all of your LTT. On a $1.5M Toronto home you still owe roughly $40K – $50K in LTT after rebates.

Can I roll closing costs into my mortgage?

No. Closing costs must be paid from cash you bring to closing — they're separate from the down payment. That's why lenders ask for proof of 1.5% closing-cost reserves on top of the down payment.

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Coldwell Banker Summit Realty, Brokerage (905) 553-8500