Verified October 15, 2026 against Ontario Ministry of Finance, City of Toronto and CMHC sources. Legal, title and inspection costs are estimates and are marked as such.
The short answer: a first-time buyer purchasing an $800,000 home in Brampton, Mississauga or anywhere else in Ontario outside Toronto needs about $68,000 to $70,000 in cash with the minimum down payment. Inside the City of Toronto, the second land transfer tax pushes that to about $76,000 to $78,000. A repeat buyer putting 20% down needs roughly $175,000 outside Toronto and $188,000 in Toronto.
Those figures are before property tax and utility adjustments, moving costs and anything you plan to fix or furnish. The breakdown below shows where every dollar goes, and the calculator lets you run your own price.
The four buyer scenarios at $800,000
| Cost | First-time, outside Toronto, 5%+ | First-time, Toronto, 5%+ | Repeat buyer, outside Toronto, 20% | Repeat buyer, Toronto, 20% |
|---|---|---|---|---|
| Down payment | $55,000 | $55,000 | $160,000 | $160,000 |
| Ontario land transfer tax, after refund | $8,475 | $8,475 | $12,475 | $12,475 |
| Toronto land transfer tax, after rebate | $0 | $8,000 | $0 | $12,475 |
| PST on the CMHC premium | $2,384 | $2,384 | $0 | $0 |
| Legal, title insurance, inspection (estimate) | $2,150 to $3,700 | $2,150 to $3,700 | $2,150 to $3,700 | $2,150 to $3,700 |
| Total cash | $68,009 to $69,559 | $76,009 to $77,559 | $174,625 to $176,175 | $187,100 to $188,650 |
The gap between Brampton and Toronto at the same price is the municipal land transfer tax. On an $800,000 home, a repeat buyer in Toronto pays $12,475 more on closing day than a buyer in Brampton or Mississauga.
Down payment: $55,000 minimum
For a home under $1.5 million, the federal minimum is 5% of the first $500,000 and 10% of the part above $500,000.
- 5% of $500,000 = $25,000
- 10% of $300,000 = $30,000
- Minimum down payment: $55,000, or 6.9% of the price
Anything under 20% down needs mortgage default insurance. At 20% or more you avoid the premium entirely, which is why the repeat-buyer columns show no PST.
Land transfer tax
Ontario charges land transfer tax on a sliding scale. The City of Toronto charges its own tax on top, using the same brackets up to $2 million.
| Portion of price | Rate | Tax |
|---|---|---|
| First $55,000 | 0.5% | $275 |
| $55,000 to $250,000 | 1.0% | $1,950 |
| $250,000 to $400,000 | 1.5% | $2,250 |
| $400,000 to $800,000 | 2.0% | $8,000 |
| Total | $12,475 |
First-time buyer relief. Ontario refunds up to $4,000 to eligible first-time buyers, which brings the provincial tax on an $800,000 home to $8,475. Toronto’s first-time buyer rebate is up to $4,475, which brings the city tax to $8,000. In practice your lawyer claims both at closing, so you pay the reduced amount rather than waiting for a cheque. Our first-time buyer land transfer tax examples show other price points.
The CMHC premium and the tax you pay in cash
With $55,000 down, you are borrowing $745,000, which is 93.1% of the price. CMHC’s premium for a loan-to-value between 90.01% and 95% is 4.00%.
- Premium: 4.00% of $745,000 = $29,800. This is added to the mortgage, so the loan becomes $774,800.
- Ontario charges 8% provincial sales tax on the premium: $2,384. This part cannot be added to the mortgage. You pay it in cash on closing.
Insured mortgages are only available on homes priced under $1.5 million, so above that the 20% minimum applies.
Legal, title and inspection
These vary by firm and property. The ranges below are our estimates for a typical freehold resale in the GTA, not quotes:
| Item | Estimated range |
|---|---|
| Real estate lawyer, fees and disbursements | $1,500 to $2,500 |
| Title insurance | $250 to $500 |
| Home inspection | $400 to $700 |
| Total | $2,150 to $3,700 |
Buying a condo? Add the status certificate, which Ontario caps at $100 and which the condo corporation must deliver within 10 days of the request. Our list of inspections worth adding to your checklist covers what else to book before you firm up.
Costs not in the totals
- Adjustments. If the seller prepaid property tax or utilities past the closing date, you reimburse them on closing day.
- Moving, utility hook-ups and immediate repairs.
- A cushion. Lenders usually want to see money left in your account after closing, often about 1.5% of the price, to show you can cover these extras.
Run your own numbers
Enter 0 to use the legal minimum.
What the mortgage costs each month
At a 4.5% five-year fixed rate, compounded semi-annually as Canadian fixed mortgages are:
The 30-year option on insured mortgages is open to first-time buyers and buyers of new builds. It lowers the payment by about $381 a month here, but you pay interest for five more years. Your lender will also test you at the higher of 5.25% or your contract rate plus 2%. Our stress test guide shows what that means for the income you need.
Thinking about a specific home or neighbourhood? We can run the full closing figures on an actual listing with you. See how we help buyers, or if you own now and want to know what your current home could put toward the next one, request a free home evaluation.
FAQ
What is the minimum down payment on an $800,000 home in Ontario?
$55,000: 5% of the first $500,000 plus 10% of the remaining $300,000.
How much is land transfer tax on an $800,000 home in Ontario?
$12,475 provincially. First-time buyers can get up to $4,000 back, bringing it to $8,475. In Toronto, a second municipal tax of $12,475 also applies, reduced to $8,000 for eligible first-time buyers.
Can I add the CMHC premium to my mortgage?
Yes, the premium itself is added to the loan. The 8% Ontario PST on the premium cannot be, so it is paid in cash on closing. On an $800,000 home with the minimum down payment that is $2,384.
How much cash does a first-time buyer need for an $800,000 home in Brampton?
About $68,000 to $70,000 with the minimum down payment, before adjustments and moving costs.
Why does it cost more to close in Toronto than in Mississauga at the same price?
Toronto charges its own land transfer tax on top of Ontario's. Mississauga, Brampton and the rest of the GTA outside Toronto do not.
Sources
- Ontario Ministry of Finance, Calculating Land Transfer Tax and Refunds for First-Time Homebuyers
- City of Toronto, Municipal Land Transfer Tax rates and first-time buyer rebate
- CMHC, Mortgage loan insurance cost
- Condominium Act, 1998 (Ontario), status certificate fee and timing
Featured photo: homes on a residential street in Brampton by Jeff Hitchcock, Wikimedia Commons, CC BY 2.0.
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This is general information, not legal, tax or mortgage advice. Confirm eligibility for refunds and insurance with your lawyer and lender. Local Toronto, HomeLife Landmark Realty Inc., Brokerage.