Every other city in this region charges one land transfer tax — Ontario's. Toronto charges two: the provincial tax, plus its own Municipal Land Transfer Tax on top. As your Toronto mortgage broker/agent, we build both into your closing-cost numbers from day one, so nothing surprises you at the lawyer's office.
Toronto is the only municipality in this market with its own land transfer tax layered on top of Ontario's. Both are calculated the same way — in marginal brackets, like income tax — so the rate that applies is the rate for that slice of the price, not the whole thing.
| Portion of purchase price | Rate |
|---|---|
| Up to $55,000 | 0.5% |
| $55,000 – $250,000 | 1.0% |
| $250,000 – $400,000 | 1.5% |
| $400,000 – $2,000,000 | 2.0% |
| $2,000,000 – $3,000,000 | 2.5% |
Because Toronto mirrors these same brackets for its own municipal tax, a typical Toronto purchase effectively pays this structure twice — once to the province, once to the city.
| Portion of purchase price | Municipal rate |
|---|---|
| $3,000,000 – $4,000,000 | 4.40% |
| $4,000,000 – $5,000,000 | 5.45% |
| $5,000,000 – $10,000,000 | 6.50% |
| $10,000,000 – $20,000,000 | 7.55% |
| Over $20,000,000 | 8.60% |
These higher brackets only apply to the portion of price above $3M on single-family (1–2 unit) residential homes — most condo and townhouse purchases never touch them.
Ontario refunds up to $4,000 of the provincial tax, and Toronto refunds up to a further $4,475 of its municipal tax, for qualifying first-time buyers — combined, that's real money back at closing.
Toronto's market moves fast and its price points span condos to multi-million-dollar detached homes. Every situation gets matched to the right lender — and the right closing-cost math — not just the first one that says yes.
Down payment planning, FHSA guidance, and full rebate stacking (provincial + Toronto municipal) — we plan your real closing costs, not just the mortgage payment.
Pre-construction assignments, rental-income qualification, and multi-unit portfolios — Toronto has more condo and investment activity than any other market we serve.
Stated income, bank statement programs, and business-for-self (BFS) products, built for Toronto's dense concentration of entrepreneurs and independent contractors.
As little as 5% down, no Canadian credit history required — dedicated newcomer programs for one of the country's top landing cities.
Bank said no? We have access to alternative (B) lenders who look at your full picture, not just a credit score.
Don't just sign your bank's renewal letter. We compare your rate across 40+ lenders before you commit to another term.
Not every good borrower fits neatly into a bank's standard box. As your Toronto mortgage agent, we work across every lending tier — matching your real financial picture to the right lender, not the other way around.
The best rates, for straightforward income and credit situations — salaried employment, strong credit, standard down payment.
For self-employed income, past credit challenges, or situations banks aren't built to evaluate properly.
Toronto isn't one market — it's dozens of them, each with its own price points, housing stock, and buyer profile. Here's where we spend the most time:
High-rise condos, investor activity, and assignment sales — financing that moves as fast as the closings do.
A mix of established detached homes and new high-rise development along Yonge — two very different financing conversations.
Higher price points where the Toronto luxury MLTT brackets and detailed rebate math actually matter.
East-end freeholds and semis, popular with move-up buyers financing renovations alongside the purchase.
Condo-dense, investor-heavy — rental income qualification comes up in almost every conversation here.
Family-focused freehold markets, often first-time move-up buyers stacking rebates against a larger mortgage.
Written by Shahid Mubeen, Licensed Mortgage Agent Level 1 (FSRA #M08001038) · Sponsored by Mortgage Alliance Company of Canada Inc. (Brokerage Licence #10530)