What will closing day actually cost?
Tap in your numbers. Get an instant estimate of your Land Transfer Tax, first-time buyer rebates, lawyer fees, inspection, and title insurance. No signup, no email.
Estimated total
$23,975
~2.66% of purchase price
You save $8,475 in LTT rebates
- Land Transfer Tax (provincial)$14,475
- Land Transfer Tax (Toronto MLTT)$14,475
- First-time buyer LTT rebate− $8,475
- Lawyer fee$2,000
- Home inspection$550
- Title insurance$350
- Disbursements (search, recording, etc.)$600
Estimates only. Final figures from your real estate lawyer.
What's in your total
Each line we estimate, and why.
Land Transfer Tax (LTT)
Single biggest cost. Tiered by price. Toronto buyers pay a second MLTT on top. First-time buyers get up to $8,475 back if buying in Toronto.
Title insurance
One-time premium (~$300–$500) that protects you against title defects, fraud, encroachments, and unknown liens. Recommended; many lenders require it.
Real estate lawyer
$1,500 – $2,500 typical. Searches title, calculates LTT, prepares closing documents, wires funds, and registers the deed. Negotiable across firms.
Inspection + disbursements
Inspection: $400 – $700. Disbursements (title search, registration, courier, copies): $300 – $700. Both upfront.
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.
Want a binding closing cost statement?
Once you have an accepted offer, your Summitly broker introduces you to a real estate lawyer who issues a binding closing statement. Zara can scope cost expectations beforehand.