Toronto regulations, taxes, and fees
There are specific taxes and fees that you want to be aware of when purchasing in Toronto. these include the municipal and provincial land transfer taxes, PST on CMHC insurance, and Toronto’s mortgage rates. For more details on Ontario’s taxes and regulations, see Ratehub.ca’s Ontario land transfer tax page.
Toronto mortgage rates
Mortgage brokers and certain lenders can charge different mortgage interest rates depending on the province and city. Ratehub.ca has a comprehensive database of the best mortgage rates in Toronto , which can also be searched through the Toronto payment calculator above.
Ontario Mortgage payment calculator
Toronto land transfer tax (LTT)
In addition to Ontario’s LTT, Home buyers in Toronto must pay an additional municipal land transfer tax. This is a marginal tax which costs 0.5% to 2.0% of the home’s value based on its purchasing price. Additional information can be found on Ratehub.ca’s Toronto land transfer tax page. The land transfer tax applies whether you’re buying a Toronto townhouse, condo or house.
Toronto land transfer tax rebate
A tax rebate of up to $3,725 is also available to first-time home buyers in Toronto which will cover the full cost of the LTT for homes $400,000 or less in value.
Ontario land transfer tax (LTT)
Home buyers in Toronto must also pay Ontario’s land transfer tax, which is a marginal tax that ranges from 0.5% to 2.0% of the home’s purchasing price. More details can be found on Ratehub.ca’s Ontario land transfer tax page .
Ontario land transfer tax rebate
First-time home buyers in Ontario may be eligible for a tax rebate up to $2,000, which will cover the full LTT for homes $227,500 or less in value.