| Purchase Price | $500,000 | $600,000 | $700,000 | $800,000 | $900,000 | $1,000,000 | $1,100,000 | $1,200,000 | $1,300,000 | $1,400,000 | $1,500,000 | $1,600,000 | $1,700,000 | $1,800,000 | $1,900,000 | $2,000,000 | $2,250,000 | $2,500,000 | $2,750,000 | $3,000,000 | $3,500,000 | $4,000,000 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Downpayment % | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% | 20% |
| Downpayment in CAD | $100,000 | $120,000 | $140,000 | $160,000 | $180,000 | $200,000 | $220,000 | $240,000 | $260,000 | $280,000 | $300,000 | $320,000 | $340,000 | $360,000 | $380,000 | $400,000 | $450,000 | $500,000 | $550,000 | $600,000 | $700,000 | $800,000 |
Hover and scroll to the right to view higher property values
Down payment requirements:
- For purchases up to $500,000 – 5% down payment
- For purchases between $500,000 and $999,999
- 5% down payment on the first $500,000
- 10% down payment on the portion above $500,000
- All purchases above $1,000,000 require a 20% down payment
LAND TRANSFER TAX ESTIMATES
| Purchase Price | $500,000 | $600,000 | $700,000 | $800,000 | $900,000 | $1,000,000 | $1,100,000 | $1,200,000 | $1,300,000 | $1,400,000 | $1,500,000 | $1,600,000 | $1,700,000 | $1,800,000 | $1,900,000 | $2,000,000 | $2,250,000 | $2,500,000 | $2,750,000 | $3,000,000 | $3,500,000 | $4,000,000 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Provincial LTT | $ 6,475 | $ 8,475 | $ 10,475 | $ 12,475 | $ 14,475 | $ 16,475 | $ 18,475 | $ 20,475 | $ 22,475 | $ 24,475 | $ 26,475 | $ 28,475 | $ 30,475 | $ 32,475 | $ 34,475 | $ 36,475 | $ 42,725 | $ 48,975 | $ 55,225 | $ 61,475 | $ 73,975 | $ 86,475 |
| Toronto LTT | $ 6,475 | $ 8,475 | $ 10,475 | $ 12,475 | $ 14,475 | $ 16,475 | $ 18,475 | $ 20,475 | $ 22,475 | $ 24,475 | $ 26,475 | $ 28,475 | $ 30,475 | $ 32,475 | $ 34,475 | $ 36,475 | $ 42,725 | $ 48,975 | $ 55,225 | $ 61,475 | $ 73,975 | $ 86,475 |
| SUBTOTAL | $ 12,950 | $ 16,950 | $ 20,950 | $ 24,950 | $ 28,950 | $ 32,950 | $ 36,950 | $ 40,950 | $ 44,950 | $ 48,950 | $ 52,950 | $ 56,950 | $ 60,950 | $ 64,950 | $ 68,950 | $ 72,950 | $ 85,450 | $ 97,950 | $ 110,450 | $ 122,950 | $ 147,950 | $ 172,950 |
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If you’re a First Time Home Buyer the following applies:
- No Land Transfer Tax in the first $368,000
- Up to $4,000 rebate over $368,000 (Provincial LTT)
- Up to $4,475 rebate (Municipal LTT)
OTHER COSTS TO CONSIDER
| Other costs | Low | High |
|---|---|---|
| Legal fees & disbursements | $ 1,500 | $ 2,500 |
| Appraisal | $ 250 | $ 800 |
| Survey (Not Mandatory) | $ 350 | $ 1,500 |
| Title insurance | $ 500 | $ 1,500 |
| Home insurance | $ 220 | $ 500 |
| Closing adjustments | $ 1,500 | $ 2,500 |
| SUBTOTAL | $ 4,260 | $ 9,300 |
*Closing adjustments : Accounts for seller pre-paid amounts for taxes or condo fees (if applicable)
TOTAL CLOSING COSTS
(Combined total of adding the downpayment, LTT and other costs above)
| TOTAL CLOSING COSTS | Low | High |
|---|---|---|
| For a $500,000 purchase | $17,210 | $22,250 |
| For a $600,000 purchase | $21,210 | $26,250 |
| For a $700,000 purchase | $25,210 | $30,250 |
| For an $800,000 purchase | $29,210 | $34,250 |
| For a $900,000 purchase | $33,210 | $38,250 |
| For a $1,000,000 purchase | $37,210 | $42,250 |
| For a $1,100,000 purchase | $41,210 | $46,250 |
| For a $1,200,000 purchase | $45,210 | $50,250 |
| For a $1,300,000 purchase | $49,210 | $54,250 |
| For a $1,400,000 purchase | $53,210 | $58,250 |
| For a $1,500,000 purchase | $57,210 | $62,250 |
| For a $1,600,000 purchase | $61,210 | $66,250 |
| For a $1,700,000 purchase | $65,210 | $70,250 |
| For a $1,800,000 purchase | $69,210 | $74,250 |
| For a $1,900,000 purchase | $73,210 | $78,250 |
| For a $2,000,000 purchase | $77,210 | $82,250 |
| For a $2,250,000 purchase | $89,710 | $94,750 |
| For a $2,500,000 purchase | $102,210 | $107,250 |
| For a $2,750,000 purchase | $114,710 | $119,750 |
| For a $3,000,000 purchase | $127,210 | $132,250 |
| For a $3,500,000 purchase | $152,210 | $157,250 |
| For a $4,000,000 purchase | $177,210 | $182,250 |
*** Please be advised that these are only estimated values. RE/MAX HALLMARK REALTY LTD and/or Jose Castillo & Claudia Pardo, Sales Representatives, make no representations in regards to the amounts hereby presented. It is advisable that youconsult your mortgage broker, insurance company, accountant and legal advisor, for accurate closing costs pertaining to your particular situation, prior to submitting an offer.
Additional fees to budget for:
- Condo fees/common elements fees (if any)
- Annual Property taxes
- Utilities
- CMHC premium if downpayment is less than 20%
- Development/builder’s fees if applicable (varies per builder)
- Tarion Warranty enrolment if applicable (varies according to property’s sale price)
- Home inspection ($325 to $800 +/ -) depends on the size/type of the property and type of inspection
Links of interest:
To calculate the CMCH premium for your mortgage, please click on this link.
Downpayment requirements for residential real estate purchases