Physician mortgages in Toronto
Canada’s largest academic health network, with the Temerty Faculty of Medicine and hospitals on and around University Avenue. Two land transfer taxes.
Teaching hospitals and medical schools in Toronto
Toronto 2026 residential property tax rate
Ontario and Toronto land transfer tax, with up to $8,475 back for first time buyers
Foreign buyers pay Ontario’s 25% speculation tax plus Toronto’s 10%
Closing costs for physicians buying in Toronto
What doctors should know about buying in Toronto
- You pay Ontario and Toronto land transfer tax. First time buyers get up to $4,000 and $4,475 back.
- Ontario’s 8% sales tax on mortgage insurance must be paid in cash at closing.
- Toronto’s 2026 residential tax rate is about 0.767%, among the lowest in the province.
Toronto physician mortgage questions
How much land transfer tax does a doctor pay in Toronto?
On a $900,000 home, about $14,475 each to Ontario and Toronto. A first time buyer gets up to $8,475 back in total, bringing it to $20,475.
Do I need extra cash for mortgage insurance in Toronto?
Yes. With less than 20% down, Ontario charges 8% sales tax on the insurance premium, and it cannot be added to the mortgage.
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Find out what you can buy before you start looking
Tell us where you are in training or practice. Asim will compare medical professional programs across banks and broker-only lenders and show you a realistic budget.
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