How much cash do I need to buy this home?
Combine your down payment with the main upfront costs buyers can face.
Amounts are Canadian dollars. Change any number to update your answer.
Required below 20% down with 30 years. Check first-time buyer or new-build eligibility.
Editable closing-cost allowances
Minimum down payment
For homes up to $500,000, the minimum is 5%. From $500,000 to below $1.5 million, it is 5% of the first $500,000 plus 10% of the rest. At $1.5 million or more, the minimum is 20%.
What this estimate covers
Ontario resale homes containing one or two residences. Toronto rates apply from April 1, 2026.
Foreign-buyer taxes, new-build sales taxes and rebates are outside this estimate.
Rebates use the qualifying ownership share. Equal ownership uses eligible buyers divided by total buyers.
Age, previous ownership, spouse, residency and occupancy conditions apply. Ontario conditions · Toronto conditions.
Your deposit forms part of your down payment; do not add it twice. Enter fees including applicable taxes, without duplicating title insurance in legal fees.
Moving costs, emergency savings and new-build adjustments are not included.
Official sources
Example: cash needed outside Toronto
For a $700,000 Ontario resale home with $70,000 down and no first-time-buyer rebate, the estimated mortgage insurance premium is $19,530. The premium is added to the mortgage; its $1,562 Ontario tax is paid upfront.
With $10,475 land transfer tax and $3,100 in entered legal, inspection and title costs, upfront expenses are about $15,137 beyond the down payment. Total cash needed is about $85,137. A deposit is part of the down payment, so do not count it twice.