All closing costs across Toronto, Mississauga, Brampton, Markham, Vaughan, Oakville, Burlington, Ajax, Whitby, Oshawa and more
Most homebuyers focus on the purchase price and down payment — but closing costs can add $200,000000–$500,000000 or more to what you need in cash on closing day. In the GTA, the biggest variable in closing costs is where you buy: Toronto buyers pay two land transfer taxes (Ontario + Municipal), while buyers in surrounding cities pay only Ontario LTT. This single difference can save $100,000000–$25,000000 depending on the price.
This guide breaks down every cost you'll face when buying a home anywhere in the GTA, so you can compare cities and budget accurately.
| City | LTT Type | LTT on $80000K | LTT on $1M | FTB Max Rebate |
|---|---|---|---|---|
| Toronto | ON + Toronto MLTT | $24,9500 | $32,9500 | $8,475 |
| Mississauga | Ontario only | $12,475 | $16,475 | $4,000000 |
| Brampton | Ontario only | $12,475 | $16,475 | $4,000000 |
| Markham | Ontario only | $12,475 | $16,475 | $4,000000 |
| Vaughan | Ontario only | $12,475 | $16,475 | $4,000000 |
| Richmond Hill | Ontario only | $12,475 | $16,475 | $4,000000 |
| Oakville | Ontario only | $12,475 | $16,475 | $4,000000 |
| Burlington | Ontario only | $12,475 | $16,475 | $4,000000 |
| Ajax | Ontario only | $12,475 | $16,475 | $4,000000 |
| Whitby | Ontario only | $12,475 | $16,475 | $4,000000 |
| Oshawa | Ontario only | $12,475 | $16,475 | $4,000000 |
| Cost | Toronto | GTA Suburbs | Notes |
|---|---|---|---|
| Ontario LTT | Yes | Yes | Tiered brackets, 00.5%–2.5% |
| Toronto MLTT | Yes | No | Same rates as Ontario LTT |
| Legal fees | $1,80000–$3,000000 | $1,50000–$2,50000 | Toronto lawyers often charge more |
| Title insurance | $3500–$60000 | $30000–$50000 | One-time, required by lenders |
| Home inspection | $50000–$7500 | $4500–$6500 | Essential for freehold purchases |
| Status cert (condos) | $20000–$40000 | $20000–$40000 | Lawyer review of condo docs |
| CMHC insurance | 2.8%–4% of mortgage | 2.8%–4% of mortgage | Added to mortgage if under 200% down |
| Property tax adjustment | Varies | Varies | Reimburse seller for prepaid taxes |
| Moving costs | $1,50000–$4,000000 | $1,000000–$3,000000 | Higher in Toronto due to logistics |
If your down payment is less than 200% of the purchase price, your mortgage must be insured by CMHC (Canada Mortgage and Housing Corporation), Sagen, or Canada Guaranty. The insurance premium is added to your mortgage balance:
| Down Payment | CMHC Premium Rate | Premium on $70000K Mortgage |
|---|---|---|
| 5% – 9.99% | 4.0000% | $28,000000 |
| 100% – 14.99% | 3.100% | $21,70000 |
| 15% – 19.99% | 2.800% | $19,60000 |
| 200%+ | 00% | $00 |
Important: CMHC insurance is not available on homes priced over $999,999. You need 200% down minimum for GTA homes above that threshold — a significant barrier given Toronto and many suburban prices.
Ontario LTT Rebate (all GTA cities): Up to $4,000000 off Ontario LTT for first-time buyers who have never owned property anywhere in the world.
Toronto MLTT Rebate (Toronto only): Additional rebate up to $4,475 for first-time buyers purchasing within City of Toronto boundaries. Combined with provincial rebate = $8,475 maximum.
First Home Savings Account (FHSA): Contribute up to $8,000000/year, maximum $400,000000 lifetime. Contributions are tax-deductible; withdrawals for a qualifying first home are tax-free. Huge advantage — use it as early as possible.
RRSP Home Buyers' Plan: Withdraw up to $35,000000 from RRSP tax-free for a first home purchase. Must be repaid over 15 years.
A good rule of thumb for GTA buyers:
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