Calculate your 2026 Quebec mortgage payment with land transfer tax and closing costs
In Quebec, the average home price is approximately $530,000, with a land transfer tax of about $3,643. First-time buyers can save up to $7,500 through the LTT rebate. Use the calculator below pre-loaded with Quebec defaults to see your exact costs.
Uses 2026 Quebec land transfer tax rates and CMHC insurance rules.
This Quebec Mortgage Calculator calculates mortgage payments with Quebec-specific land transfer tax rates, first-time buyer rebates, CMHC insurance, and stress test requirements. Quebec is pre-selected with the provincial average home price of $530,000.
Standards: Quebec Land Transfer Tax Rates, OSFI Guideline B-20, CMHC Insurance Standards, Bank of Canada Rates
Quebec charges the "Welcome Tax" (droits de mutation): 0% up to $55.2K, 0.5% up to $276.2K, 1% up to $552.3K, 1.5% above. Montreal adds a supplemental tax on homes over $500K.
| Home Price | Land Transfer Tax | First-Time Buyer Tax |
|---|---|---|
| $300,000 | $1,343 | $0(save $1,343) |
| $500,000 | $3,343 | $3,343 |
| $750,000 | $6,832 | $6,832 |
| $1,000,000 | $10,582 | $10,582 |
Quebec first-time buyers may receive a rebate of up to $7,500 on the Welcome Tax for homes priced at $300,000 or less.
Maximum Rebate
$7,500
Price Cap
$300,000
Average Price (2026)
$530,000
LTT at Average Price
$3,643
Source: Based on 2026 Canadian Real Estate Association (CREA) data. Actual prices vary by city and property type.
Mortgage pre-approval shows sellers you're serious and helps you understand your true budget. It locks in your rate for 90-120 days and strengthens your offer in competitive markets.
Aim for 20% down to avoid CMHC insurance (2.8-4% of mortgage). On a $500,000 home, 20% down saves $11,200-16,000 in insurance premiums plus lower monthly payments.
Accelerated bi-weekly payments make an extra month's payment per year automatically. On a $400,000 mortgage at 5%, this saves $34,000 in interest and pays off your mortgage 3 years faster.
Even 0.25% rate difference matters significantly. On a $400,000 mortgage, 0.25% lower rate saves $12,500 over 25 years. Use a mortgage broker to compare offers from multiple lenders.
Beyond down payment, budget for land transfer tax (1-2% of price), legal fees ($1,000-2,000), home inspection ($400-600), and moving costs. First-time buyers should budget 5-7% of purchase price for total upfront costs.
Reducing from 25 to 20 years increases payments slightly but saves enormous interest. On a $400,000 mortgage at 5%, 20-year amortization saves $65,000 in interest despite only $250/month higher payments.
Just because you're approved for $600,000 doesn't mean you should borrow it. Lenders approve based on gross income, but you live on net income. Leave room in your budget for maintenance, property taxes, and unexpected costs.
You must qualify at a higher rate (qualifying rate + 2% or 5.25%, whichever is higher), but you'll pay your actual rate. This buffer protects you if rates rise. Never push your budget to the maximum qualification.
A $500 home inspection can reveal $50,000 in hidden problems. Foundation issues, roof repairs, electrical problems, and mold can be deal-breakers. Always include a home inspection condition in your offer.
Your 5-year term is not your 25-year amortization. After 5 years, you'll need to renew at current rates which could be significantly different. Consider how rising rates would affect your budget before committing.
The total time it takes to fully pay off your mortgage. In Canada, maximum is 25 years for insured mortgages (under 20% down) and 30 years for conventional mortgages. Longer amortization means lower payments but much more interest paid.
The length of time your mortgage contract and interest rate are locked in, typically 1-5 years. At the end of each term, you renew your mortgage at current rates. This is different from your amortization period.
The upfront payment you make toward the home purchase. Minimum is 5% for homes under $500,000, 5-10% for $500K-$1M, and 20% for homes over $1M. Higher down payments mean lower monthly costs and no CMHC insurance.
Mortgage default insurance required when down payment is less than 20%. Premiums range from 2.8% to 4% of mortgage amount. This protects the lender (not you) if you default. Cost can be added to your mortgage.
Federal requirement that you qualify for a mortgage at a higher interest rate (your rate + 2% or 5.25%, whichever is higher). This ensures you can still afford payments if rates increase.
How often you make mortgage payments: monthly, bi-weekly, or weekly. Accelerated frequencies make extra payments per year, significantly reducing interest and amortization period.
Provincial tax on property transfers, typically 0.5-2.5% of purchase price depending on province and home value. First-time buyers may qualify for rebates. Toronto and Montreal have additional municipal taxes.
Additional costs beyond down payment including legal fees ($1,000-2,000), home inspection ($300-600), title insurance ($250-400), property appraisal ($300-500), and land transfer tax. Budget 1.5-4% of purchase price.
The actual amount you borrowed for your mortgage, not including interest. Each payment includes both principal (reduces your loan) and interest (cost of borrowing). Early payments are mostly interest, later payments are mostly principal.
The annual percentage rate you pay to borrow money. Canadian mortgages typically use semi-annual compounding. Even small rate differences (0.25%) can save tens of thousands over your amortization period.
This calculator is based on the following authoritative sources and research:
Office of the Superintendent of Financial Institutions Canada (OSFI) (2026)
View SourceImportant Note: Mortgage calculations are based on 2026 Quebec land transfer tax rates and federal regulations. Always consult with a licensed mortgage professional for personalized advice.
Common questions about mortgages in Canada
20.0% (minimum: $28,000)
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