The down payment is only part of the cash you need. This adds up every Ontario closing cost — land transfer tax net of first-time rebates, legal, appraisal, inspection and the rest — and the total cash needed at closing.
Canadian lenders and the FCAC commonly suggest budgeting 1.5% to 4% of the purchase price for closing costs. In Ontario, land transfer tax is usually the biggest line — and Toronto buyers pay it twice (provincial + municipal). First-time buyers get up to $4,000 back from Ontario and $4,475 from Toronto, which is already deducted above when you tick the box.
Not included (estimates vary too much or don't apply to every purchase): development levies on new builds, HST on new homes, status certificate fees for condos, and moving costs. Your lawyer's final statement of adjustments is the authoritative number — treat everything here as a planning estimate.
How much home you can afford on your salary — GDS/TDS limits, qualified at the stress-test rate like a lender does.
Open calculator →Your exact payment with Canadian semi-annual compounding, all frequencies, CMHC insurance and a full amortization schedule.
Open calculator →Your qualifying rate, the payment you're actually tested on, and a clear pass/fail under the federal B-20 rules.
Open calculator →Rent or buy in the GTA? The true net cost of each — land transfer tax and CMHC included — over your time horizon.
Open calculator →Ontario + Toronto land transfer tax, first-time buyer rebates, minimum down payment and CMHC premium in one estimate.
Open calculator →Breaking your mortgage to refinance? New payment, monthly savings, penalty estimate, and the break-even month.
Open calculator →Extra monthly payments or a lump sum: interest saved, time cut off, and your new mortgage-free date.
Open calculator →First Home Savings Account: $8,000/yr up to $40,000, tax refunds, growth, and your total down payment fund.
Open calculator →Withdraw up to $60,000 from your RRSP tax-free — and see the exact 15-year repayment schedule.
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