Quebec Mortgage Calculator
Calculate your Quebec mortgage payment with CMHC premiums and welcome tax.
Useful for home buyers in Montreal, Quebec City, Laval, Gatineau, Longueuil, and all of Quebec.
Useful for home buyers in Montreal, Quebec City, Laval, Gatineau, Longueuil, and all of Quebec.
Why use a Quebec Mortgage Calculator?
Quebec has a welcome tax (taxe de bienvenue) on home purchases. This calculator estimates your payment, CMHC premium, and closing costs.
Quebec has a welcome tax (taxe de bienvenue) on home purchases. This calculator estimates your payment, CMHC premium, and closing costs.
Result
Enter your details to see the estimated payment here.
Related Calculators
Quebec Welcome Tax (Taxe de bienvenue): 0.5% on the first $55,200, 1.0% on $55,200–$276,200, 1.5% on $276,200–$552,300, and 3.0% above $552,300 (rates may vary by municipality). Montreal has a higher rate for properties above $552,300.
Average Home Prices in Major Quebec Cities (2024)
| City | Detached | Semi-Detached | Townhouse | Condo |
|---|---|---|---|---|
| Montreal | $750,000 | $600,000 | $550,000 | $450,000 |
| Quebec City | $400,000 | $325,000 | $300,000 | $250,000 |
| Laval | $600,000 | $500,000 | $450,000 | $350,000 |
| Gatineau | $450,000 | $375,000 | $350,000 | $275,000 |
| Longueuil | $500,000 | $400,000 | $375,000 | $300,000 |
How Mortgage Rules Work in Quebec
- Welcome Tax (Taxe de bienvenue): Quebec buyers pay a property transfer tax, known as the welcome tax, when purchasing a home. The rates are tiered and may vary by municipality. Montreal has higher rates for properties above $552,300.
- CMHC Insurance: If your down payment is less than 20%, you must pay a CMHC (mortgage default insurance) premium, which is added to your mortgage.
- Closing Costs: Quebec closing costs include the welcome tax, notary fees, and other expenses such as home inspection and adjustment of municipal taxes.
Example: On a $500,000 home with 10% down in Montreal, you pay a CMHC premium and the welcome tax at Montreal's rates. First-time buyers should also budget for notary and other closing costs.
Frequently Asked Questions
Yes, Quebec has a property transfer tax, commonly called the \"welcome tax\" (taxe de bienvenue). The rates vary by price tier and municipality.
Montreal has a higher welcome tax rate for properties above $552,300. The top rate is 3.0% for properties above $2,000,000.
CMHC is mortgage default insurance required in Canada when your down payment is less than 20%. The premium is added to your mortgage.