What is the minimum down payment for a home in Ontario?

In Canada, the minimum down payment depends on purchase price: 5% on the first $500,000, 10% on the portion from $500,000 to $1.5M, and 20% on the portion above $1.5M. Down payments under 20% require CMHC mortgage insurance.

What is the Land Transfer Tax in Toronto?

Toronto buyers pay BOTH the Ontario Provincial Land Transfer Tax AND the Toronto Municipal Land Transfer Tax. Combined, the rates are tiered up to 2.5% provincial + 2.5% municipal on portions above $2,000,000. First-time buyer rebates are available.

What are typical closing costs in Ontario?

Closing costs in Ontario typically run 1.5–4% of the purchase price. They include legal fees, title insurance, land transfer tax (above), property tax adjustments, home inspection and CMHC insurance if applicable.

When is CMHC mortgage insurance required?

CMHC mortgage insurance is required when your down payment is less than 20% of the purchase price. The premium is added to your mortgage and ranges from 0.6% to 4.0% of the loan amount depending on down payment size.

Canadian Mortgage Calculator | Toronto Home Buyer Tools

Canadian Mortgage Calculator

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Calculator results are estimates. Actual mortgage terms depend on your lender's qualifying criteria, current rates, your credit profile, and the specific property. Speak with your mortgage broker for a binding quote.

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Understand the real cost.

Closing costs, land transfer tax, legal fees, inspections — we walk you through every line item before you commit.

Down Payment

Minimum 5% on the first $500K; 10% on the portion $500K–$1M; 20% above $1M.

Land Transfer Tax

Toronto buyers pay both provincial and municipal LTT — together up to ~4% of price.

Closing Costs

Legal, title insurance, adjustments — typically 1.5–4% of the purchase price.

CMHC Insurance

Required for down payments under 20%. Premium ranges 2.8%–4.0% of the loan.