What a home costs in Toronto, what you pay to close, and how much a physician program lets you buy.
Benchmark price for Toronto, July 2026, from the Toronto Regional Real Estate Board, Market Watch July 2026, City of Toronto. Other cities show the MLS Home Price Index benchmark unless marked. Figures reviewed August 2026.
A physician program could add
$0
to the home you can buy.
Estimate at 4.49%, stress tested at 6.49%, with 10% down, below the $1.5M insured limit.
Toronto is the only Ontario city with a municipal land transfer tax on top of the provincial one. On a $1.65M home the combined provincial plus municipal LTT is $58,950 before first-time buyer rebates. Outside Toronto, Ontario provincial LTT alone on the same price is $29,475. First-time buyers can claim rebates against both portions.
Sources: Ontario Ministry of Finance, calculating land transfer tax; City of Toronto, municipal land transfer tax rates and fees; City of Toronto, MLTT rebate opportunities; Ontario, land transfer tax refunds for first-time homebuyers. Rates reviewed August 2026.
Physician programs qualify residents on $185,000 in PGY-1 and PGY-2 and $225,000 from PGY-3, not on these salaries.
PARO, PARO-OTH arbitration decision, September 24, 2024, in effect from July 2025. The agreement expired June 30, 2026. PARO states its terms, including salary, stay in effect until a new agreement is reached. No 2026 grid had been published when this table was reviewed.
Why is the Toronto land transfer tax so high?
Toronto is the only Ontario city that charges a municipal land transfer tax on top of the Ontario provincial one. A buyer pays both, so the combined tax on a $1.65M home is $58,950 before first-time buyer rebates, versus $29,475 in provincial LTT alone elsewhere in Ontario.
Can a Toronto resident physician buy a condo?
Yes. Under a physician program, a Toronto resident qualifies on projected attending income with 10% down, even on a downtown condo that standard qualification on the resident stipend would reject. The PLOC can fund the down payment and the double land transfer tax at closing.
How much can a Toronto attending physician qualify for?
There is no typical figure. It depends on your income, debts and down payment. A signed staff contract can be used before your first staff T4, and an incorporated physician can be qualified on corporate income as well as salary. The calculator on this page runs your own numbers.
Do first-time physician buyers get a land transfer tax rebate in Toronto?
Yes. First-time buyers can claim rebates against both the provincial and the municipal Toronto land transfer tax, reducing each portion. The rebate does not eliminate the tax on higher-priced homes but meaningfully lowers closing costs.
