Cash needed to close
Waterfall down payment, taxes, credits, and adjustments to see cash due on closing day.
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Cash needed to close
Estimate total funds required on closing including down payment, taxes, insurance, and credits.
Calculation notes
Methodology for the cash needed to close
Build a complete cash-to-close estimate including down payment, closing costs, land transfer taxes, legal fees, insurer premiums, and adjustments.
See exactly how much money you need in your bank account on closing day — no surprises, no last-minute scrambles.
Compare different down payment scenarios to find the sweet spot between minimizing upfront cash and minimizing ongoing mortgage costs.
Use it alongside the closing costs and insurer premium calculators to validate your total cash plan before writing an offer.
Inputs to check
- Purchase price
- Down payment amount
- Province and tax adjustments
- Estimated legal and appraisal fees
Assumptions
- Closing cost estimates use typical ranges; actual costs depend on your specific transaction.
- Land transfer taxes reflect published provincial and municipal rates at the time of calculation.
- Deposits paid with the offer are credited toward the total down payment at closing.
- Lender requirements for proof of funds vary — confirm documentation timing with your broker.
How this calculator works
Build a complete cash-to-close estimate including down payment, closing costs, land transfer taxes, legal fees, insurer premiums, and adjustments.
See exactly how much money you need in your bank account on closing day — no surprises, no last-minute scrambles.
Compare different down payment scenarios to find the sweet spot between minimizing upfront cash and minimizing ongoing mortgage costs.
Use it alongside the closing costs and insurer premium calculators to validate your total cash plan before writing an offer.
Inputs you will need
- Purchase price
- Down payment amount
- Province and tax adjustments
- Estimated legal and appraisal fees
Assumptions and limitations
- Closing cost estimates use typical ranges; actual costs depend on your specific transaction.
- Land transfer taxes reflect published provincial and municipal rates at the time of calculation.
- Deposits paid with the offer are credited toward the total down payment at closing.
- Lender requirements for proof of funds vary — confirm documentation timing with your broker.
Example scenarios
First-time buyer in Ontario
$550K purchase with 10% down = $55K. Add LTT ($2,975 after rebate), legal ($1,500), title insurance ($400), appraisal ($450). Total cash to close: ~$60,300.
Repeat buyer in BC
$750K purchase with 20% down = $150K. Add PTT ($10,000), legal ($1,800), title insurance ($350), inspection ($500). Total: ~$162,650.
Minimum down payment scenario
$400K at 5% down = $20K. Add CMHC premium ($14,440, financed), closing costs ($6K-$8K). Total upfront cash: ~$26K-$28K.
Alberta advantage
$500K Calgary purchase at 10% down = $50K. No LTT. Legal ($1,400), inspection ($500), title ($300). Total: ~$52,200 — thousands less than equivalent Ontario/BC.
Related tools
Turn this purchase result into a plan
Pair the calculator output with the right buyer guide, then pressure-test lender fit, down payment, and closing-day cash before you make an offer.
Guides
Read the Canada-specific playbook before you commit to the next step.
Execution
Use the broker workflow, rates pages, or secure dashboard to move from estimate to action.
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Frequently asked questions
How much cash do I actually need on closing day?
Total is: down payment + LTT + legal fees + title insurance + appraisal + inspection + property tax adjustment + moving + utility connections. Conservative estimate: 1.5-2.5% of purchase price in addition to your down payment. On $600K with 10% down, budget roughly $69K-$75K total.
Can the offer deposit count toward the down payment?
Yes. The deposit provided with your offer — typically 5% of purchase price paid within 24 hours of acceptance — is held in trust and credited toward your total down payment at closing. If your offer deposit is $30K on a $600K purchase with $60K total down payment, you bring only $30K more at closing plus closing costs.
What if my cash to close is a few thousand short?
Options: reduce down payment (if still above minimum), use cash-back mortgage (higher rate), negotiate seller to cover some closing costs via price adjustment, borrow from family with documented gift letter, or delay purchase to save more. Do not borrow informally without documentation.
When do I need the full amount available?
Typically 3-5 business days before closing, your lawyer provides a final statement of adjustments showing the exact amount. Have the full amount ready to wire at least 2 business days before closing. Lenders may request updated bank statements showing the funds 5-10 days before closing.