Home Closing Cost Calculator

How to use the home closing cost calculator

Closing expenses are the sum of the cost categories you enter. The calculator adds your total down payment, then subtracts the deposit already paid toward that purchase to estimate the remaining cash requirement. The down payment should include the deposit, so entering the deposit does not reduce it twice. If the deposit exceeds the modeled requirement, the excess is shown separately rather than presenting a negative amount still due.

Does it calculate local land transfer tax?

No. Enter a current estimate for the location and transaction. Provincial, municipal and non-resident taxes, first-buyer relief and new-home tax rebates vary. This page does not infer them from the purchase price.

What else should I include?

Use Other for relevant charges absent from the form, such as financing fees or an insurance premium paid in cash. Avoid double counting a fee already included in a lawyer’s estimate.

How should I compare scenarios?

Start with the example, then replace every relevant value with your own figures. Keep the currency and time periods consistent. Change one assumption at a time and calculate again to see its effect. The initial values are examples, not recommended rates, prices or budgets. When comparing alternatives, include the same categories in each scenario so that a missing expense does not make one choice appear cheaper.

Can I save or share the result?

Use Copy summary for a concise text result, or Export CSV for the available figures. Calculations run in your browser; entered amounts are not uploaded by this tool. An exported file contains your information, so choose where to store or share it. Displayed amounts are rounded to two decimal places, while most intermediate calculations retain additional precision. Small differences from a bill or statement can therefore occur.

What should I check before using the numbers?

Read the calculation assumptions beside the result and confirm the inputs against the relevant quote, agreement or records. This tool provides an estimate based on those inputs, not an approval, market forecast or personalized financial recommendation. Refresh the calculation when your circumstances or the underlying terms change.

Reference: FCAC: buying a home