You’re pre-approved for a mortgage to help you find the home of your dreams. Then, you hand over your down payment, collect your mortgage funds, pay the seller and get the keys, right? Not so fast. There are other costs to consider. These closing costsOpens a popup. and additional expenses can impact your offer, the size of your down payment and the amount of mortgage you qualify for. Only a few are optional, so be aware of these costs from the start.

Before closing day

Home inspection (optional)

Property appraisal

Property survey

Title insurance

Property insurance

Mortgage life, critical illness, disability or job loss insurance (optional)

Closing day

Applicable fees, taxes and remaining costs

  • Land transfer tax
  • GST or HST
  • Property taxes, utilities and condo fees

Mortgage default insurance

After closing day

Legal fees and disbursements

Learn more about mortgages