Integrated policy engines
The calculator calls the same land-transfer-tax and CMHC premium engines used by the standalone calculators. This prevents policy logic from being duplicated or drifting between pages.
Ontario cash-to-close planning
Closing Cost Calculator Ontario
Build a complete cash-to-close estimate by combining the down payment, Ontario or Toronto land transfer tax, CMHC premium tax, legal and title costs, appraisal, inspection, adjustments, moving, and other expenses.
Shared LTT and CMHC enginesComplete cash-to-close totalEditable legal and adjustment costsToronto and first-time buyer support
Calculation inputs
Build the full cash-to-close estimate
The engine reuses the land-transfer-tax and CMHC engines, then adds editable legal, due-diligence, adjustment, and moving estimates.
Editable transaction costs
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How the calculation works
Understand the formula before relying on the result
Cash versus financed costs
The down payment, land transfer tax, premium sales tax, legal costs, due diligence, adjustments, and moving costs are treated as cash requirements. The eligible insurance premium is added to the mortgage instead.
Editable transaction estimates
Legal fees, title insurance, appraisal, inspection, tax adjustments, utilities, and moving costs vary. Every estimate is editable so the user can replace defaults with quotes or lawyer-provided figures.
Cash-to-close total
The primary result adds the entered down payment to all cash closing costs. It separately shows the base mortgage and the mortgage after any capitalized insurance premium.
Interpret the result
Closing costs excluding down payment
This is the extra liquidity required beyond the down payment. It is also expressed as a percentage of the purchase price for planning.
Mortgage with insurance
When the down payment is below 20% and the scenario is eligible, the premium is added to the mortgage, while premium tax remains a cash item.
Adjustments
The seller may have prepaid property taxes, utilities, condominium charges, or other items. The statement of adjustments determines the actual amount.
Unmodelled transaction costs
New-build HST, assignment charges, development levies, status certificates, specialty inspections, lender fees, and non-resident taxes can be material and must be added when relevant.
Common mistakes
- Saving only the minimum down payment and no separate closing funds.
- Adding CMHC premium tax to the mortgage even though it is due in cash.
- Using a generic percentage instead of calculating Ontario and Toronto land transfer tax.
- Ignoring statement-of-adjustment amounts until the final days before closing.
- Forgetting new-build, condo, rural, private-lender, or alternative-lender transaction costs.
What lenders review
- Evidence that down payment and closing funds are available and traceable.
- Whether any closing funds are borrowed and how that debt affects qualification.
- Source and timing of gifts, RRSP withdrawals, FHSA funds, sale proceeds, or foreign funds.
- Insured-mortgage premium and tax treatment.
- Property-specific appraisal, legal, condo, septic, well, environmental, or lender requirements.
Planning tips
- Replace defaults with lawyer, inspector, mover, and lender quotes as soon as available.
- Keep a separate emergency reserve after closing.
- Use a conservative adjustment estimate when property taxes are high or closing late in the tax year.
- Confirm whether lender or broker fees are payable from mortgage proceeds or cash.
- Re-run the calculator whenever the price, down payment, location, or mortgage structure changes.
Connected HopeWell knowledge
Connect the closing cost calculator to the mortgage decision
Use the result alongside HopeWell's guide chapters, glossary definitions, real underwriting case studies, service pages, and related calculators.
Calculation pathway
Related mortgage calculators
Continue into qualification, purchase costs, equity, refinancing, HELOC planning, and mortgage comparison using the connected calculators below.
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Model payments, amortization, prepayments, and schedules.
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Affordability Calculator
Estimate a maximum purchase price using income, debts, and policy.
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Mortgage Stress Test Calculator
Compare contract and qualifying payments.
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CMHC Insurance Calculator
Estimate premium, tax, and insured mortgage amount.
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Land Transfer Tax Calculator
Calculate Ontario and Toronto taxes and rebates.
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Home Equity Calculator
Estimate gross, accessible, and sale equity.
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Mortgage Refinancing Calculator
Compare cash out, payment, costs, LTV, and interest.
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HELOC Calculator
Estimate HELOC room, payments, and rate sensitivity.
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Mortgage Comparison Calculator
Compare mortgage offers by term cost and balance.
Frequently asked questions
Questions about this calculation
How much should I budget for closing costs in Ontario?
There is no universal percentage. Land transfer tax, location, price, first-time buyer status, mortgage insurance, legal work, property type, and transaction-specific adjustments can materially change the amount.
Are closing costs included in the down payment?
No. The down payment and closing costs are separate cash requirements.
Is the CMHC premium a cash closing cost?
The premium is generally added to the mortgage. Applicable provincial tax on the premium is paid in cash.
Does the calculator include Toronto land transfer tax?
Yes, when City of Toronto is selected. It applies municipal tax and eligible first-time buyer relief in addition to Ontario tax.
Does it include HST on a new home?
No. New-home HST and rebates are legally and factually complex and must be reviewed from the agreement, builder statement, occupancy, assignment, and rebate eligibility.