Cash to Close Calculator

Q: What counts as cash to close?

Cash to close can include the down payment, land transfer tax, provincial sales tax on a financed mortgage-insurance premium, legal and title costs, adjustments, inspection, appraisal, moving and transaction-specific expenses.

Q: How much should I budget for closing costs?

The Financial Consumer Agency of Canada says buyers should generally be prepared for upfront or closing costs of about 1.5% to 4% of the purchase price. The exact mix depends on the transaction and location.

Q: Why is the mortgage insurance premium not added to cash required?

The insurance premium is commonly financed into the mortgage. In Ontario, provincial sales tax on the premium is paid in cash and cannot be added to the mortgage.

Q: Why can Toronto closing cash be higher?

A qualifying purchase in the City of Toronto can be subject to Ontario Land Transfer Tax and Toronto Municipal Land Transfer Tax. First-time buyer rebates may reduce the amount when eligibility requirements are met.

Q: What is the Toronto MLTT administration fee?

For modeled Toronto transactions where the administration fee applies, the calculator includes the current $102.56 fee plus HST. The City can update fees, so re-check before closing.

Q: Is the deposit separate from the down payment?

The deposit is generally credited toward the purchase price and forms part of the buyer cash delivered for the transaction, but the timing and required deposit amount are set by the agreement and local practice. Confirm the actual funds flow with your lawyer and brokerage.

Purchase price

Down payment

Property location Buyer situation Insured amortization scenarioOnly affects the modeled insurance premium where high-ratio insurance applies.

Other closing cash

Replace these planning amounts with quotes or lawyer/lender estimates when you have them.

Lawyer + disbursements

Home inspection

Appraisal / lender costs

Title insurance estimate

Adjustments / utility setup

Moving / immediate setup

Updated automatically. Change any cost to model the cash required before closing.

Cash-to-close questions

What counts as cash to close?

It is the money you need to complete the transaction beyond the mortgage advance. It can include the down payment, land transfer tax, insurance tax, legal and title costs, adjustments and selected setup expenses.

How much should I budget for closing costs?

Federal consumer guidance says buyers should generally be prepared for upfront or closing costs of about 1.5% to 4% of the purchase price. Your actual transaction can fall outside a broad planning range.

Financial Consumer Agency of Canada →

Why is the mortgage insurance premium not added to cash required?

When applicable, the premium is modeled as financed into the mortgage. Ontario sales tax on that premium is shown as cash because it cannot be added to the mortgage.

CMHC insurance costs →

Why can Toronto closing cash be higher?

A Toronto purchase can include both Ontario LTT and Toronto MLTT, plus the City’s MLTT administration fee where applicable.

City of Toronto rates and fees →

Estimated cash required to close—Down payment + selected taxes + selected closing/setup cash.

—Cash required

Down payment—

Land transfer tax—

Insurance sales tax—

Toronto admin fee—

Other closing/setup—

Down payment—

Cash beyond down payment—

Estimated LTT after selected rebate—

Other selected closing/setup costs—

Mortgage default insurance premium—

Ontario sales tax on insurance premium—

Toronto MLTT administration fee + HST—

Estimated mortgage principal after financed insurance premium—

Estimate the money needed before the keys are released

Purchase price alone does not tell you how much cash must be ready for closing. This calculator combines the down payment with Ontario or Toronto land transfer tax, mortgage-insurance sales tax where applicable, legal and title costs, adjustments and the setup expenses you choose to include.

Next planning step

Once the closing cash works, test the monthly ownership cost.

Closing-day affordability and month-to-month affordability are different questions. Check both before you stretch the purchase price.

Monthly Affordability →Review My Closing Plan

Common Ontario closing-cost questions

Quick answers before you send your scenario.

Do first-time buyers get land transfer tax rebates?

Eligible first-time buyers can potentially receive an Ontario refund of up to $4,000 and, for a Toronto purchase, a Toronto rebate of up to $4,475. Eligibility, ownership history, spouse rules and purchaser shares matter.

Calculate land transfer tax →

Is the deposit separate from the down payment?

The deposit is generally credited toward the purchase and ultimately forms part of the buyer funds for the transaction, but its timing and amount are governed by the agreement. Your lawyer and brokerage should confirm the actual funds flow.

What is the Toronto MLTT administration fee?

The City lists a $102.56 MLTT administration fee plus HST for applicable transactions. The calculator includes it for modeled Toronto purchases where the fee applies.

City of Toronto fee schedule →

Does this include every lawyer or lender charge?

No. The legal, appraisal and other fields are editable planning amounts. Use actual quotes and your statement of adjustments when available.

What if the down payment is below the general minimum?

The calculator will warn you. Revise the financing assumption before relying on the result because the transaction may not fit the modeled insured-purchase rules.

Federal down-payment guidance →

Should moving and immediate setup costs be in cash to close?

They may not be payable to the lawyer on closing, but including them gives you a more realistic picture of how much liquid cash the move can consume around possession.

Private Real Estate Request

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