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Closing Cost Calculator

A mistake that buyers often make is that when calculating the price and affordability of their future home, they do not take into account the closing costs that are associated with the home purchase (closing costs generally account for 1.5-3% of the home purchase price). Among the costs, below are a list of the most common to keep an eye out for and budget into your plans.

Mortgage Info

%

%

Ontario

Total Mortgage

$0

Monthly Mortgage Payment

$0

Closing Costs

Land Transfer Tax$6,275
Municipal Tax$0
Real Estate Lawyer$1,500
Property Insurance$500
Title Insurance$400
Appraisal$400
Other Costs$1,150
HST on CMHC Insurance$0
FTHB credit- $0
Total Closing Cost$8,925

* These calculations are just an estimate. To get a true overview of your affordability, apply online in 5 minutes and a Homewise Advisor can overview your full financial picture.

Closing Costs
Key Concepts

What are Expected Closing Costs?

A mistake that buyers often make is that when calculating the price and affordability of their future home, they do not take into account the closing costs that are associated with the home purchase (closing costs generally account for 1.5-3% of the home purchase price).

📚  Learn More

The Ultimate Mortgage Guidebook

Whether you have already purchased or are looking to buy soon, being prepared is very important and will save you money. With so much to look forward to, it is important that you make the proper financial decisions during the mortgage process, as it could be one of the largest financial decisions you make in your life. This Mortgage 101 post will help you understand some of the basics to start your learning process on your way to a great mortgage. You can also view more posts here, or reach out to our team at any time with questions using our contact info. 

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Everything You Need To Know About Closing Costs

Closing costs are a series of fees applied on top of a home’s purchase price and are often overlooked by many home buyers. Taking the time to understand the closing costs that come with buying a home will ensure you’re financially prepared to take on this investment. Check out our latest blog post to learn more.

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