Closing Cost Calculator
Morty tallies every fee so closing day has zero surprises — including provincial land transfer tax and first-time buyer rebates.
Property Details
$
Estimated Closing Costs
$11,025
2.21% of home price · Ontario
Land Transfer Tax
Provincial LTT$6,475
Net LTT$6,475
Other Closing Costs
Legal Fees & Disbursements$1,800
Title Insurance$350
Home Inspection$500
Appraisal Fee$400
Adjustments (tax/utilities)$1,500
Subtotal$4,550
Land Transfer Tax
$6,475
Other Fees
$4,550
Morty suggests: Toggle "First-Time Home Buyer" to see if you qualify for a land transfer tax rebate!
Closing cost breakdown
Ontario · $500,000 purchase price
| Item | Amount |
|---|---|
| Provincial land transfer tax | $6,475 |
| Net land transfer tax | $6,475 |
| Legal fees & disbursements | $1,800 |
| Title insurance | $350 |
| Home inspection | $500 |
| Appraisal fee | $400 |
| Adjustments (tax/utilities) | $1,500 |
| Estimated total | $11,025 |
- Legal fees & disbursements: $1,800 (national average estimate)
- Title insurance: $350
- Home inspection: $500
- Appraisal fee: $400
- Adjustments (tax/utilities prepaid): ~0.3% of purchase price
- Land transfer tax from provincial (and Toronto municipal) bracket tables — including first-time buyer rebates where applicable
Frequently asked questions
- What are closing costs in Canada?
- Closing costs are one-time fees due when you take ownership of a home — typically land transfer tax, legal fees, title insurance, inspections, appraisal, and minor adjustments. Budget roughly 1.5–4% of the purchase price depending on province and first-time buyer rebates.
- What is land transfer tax?
- Land transfer tax (or property transfer tax) is a provincial — and in Toronto, municipal — tax on the purchase price, calculated with progressive brackets. Some provinces have no LTT; Alberta, Saskatchewan, and the territories use registration fees instead.
- Do first-time buyers get a rebate?
- Ontario offers up to $4,000 provincial rebate (and Toronto up to $4,475 municipal). British Columbia offers a full or partial exemption up to a price cap. Rules and definitions of “first-time buyer” vary by province — confirm with your lawyer.
- Are the legal and inspection fees exact?
- No — this tool uses typical national estimates (e.g. ~$1,800 legal, ~$500 inspection). Actual quotes vary by city, firm, and property. Use the totals as a planning budget, then replace line items with your real quotes.
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