How to Use This Closing Cost Calculator
This calculator estimates the one-time fees due at closing when buying or selling a home — legal fees, land transfer or property tax, title insurance, inspection, appraisal, and lender fees — adjusted for location.
How It’s Calculated
Closing costs are summed as a set of location-aware line items (typically 1.5% to 4% of purchase price in Canada, 2% to 5% in the US) rather than one formula — each fee such as legal, transfer tax, and title insurance is estimated individually and totaled.
Example
On a $450,000 home purchase in Ontario, closing costs typically run $9,000 to $14,000 once land transfer tax, legal fees, and title insurance are included.
Frequently Asked Questions
What’s usually the biggest closing cost?
Land transfer tax in Canada, or transfer and recording taxes in the US, is usually the single largest line item, especially in cities with an additional municipal transfer tax like Toronto.
Are closing costs the same for buyers and sellers?
No — sellers typically pay the real estate commission, which is the largest seller cost, while buyers cover legal, inspection, appraisal, and transfer taxes.
Can closing costs be rolled into the mortgage?
Some lenders allow partial financing of closing costs, but most require them paid in cash at closing, separate from the down payment.