Deposit at time of offer                                   Approximately 5% of purchase Price Payable to the                                                                                listing brokerage. Is credited towards your down                                                                                  payment.

Down payment                                               The balance  of the money  that you are putting as a                                                                             down payment is due on the day of closing. It is paid to                                                                       the buyer's lawyer, usually before the possession.

Balance of Purchase Price                               This is the amount that you are mortgaging.

Ontario Land Transfer Tax                               0.5% on the 1st $55,000,

                                                                       1% on $56,000- $250,000,

                                                                       1.5% on $251,000- $400,000

                                                                       2% on the balance

                                                                       Quick Calculation: purchase price x2% minus$3525

HST (New construction only)                           13%

High Ratio Insurance (CMHC)                          Is applicable on mortgages when borrowing more  than                                                                         80% of the value of the property.

Legal Fees & Title Insurance                           Estimate $1500-$1700+ HST

Property Inspection                                        Estimate $400-$550 + HST Adjustments

Property Survey (Detached Homes)                 Estimate $1400-$2000 +HST

Moving home costs                                         House insurance, Movers, Painters, Cleaners, etc.