How much cash do I need on closing day besides the down payment in Canada?

CMHC says closing costs are typically 1.5 percent to 4 percent of the purchase price, on top of the down payment. They cover legal fees, land transfer taxes, and other costs. On closing day the lender sends the mortgage money to your lawyer or notary. You give the rest of the down payment, and these closing costs, to that lawyer or notary. They pay the seller, register the home in your name, and give you the deed and the keys. The percentage is a typical range. It is not a quote for a particular home.

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