UNDERSTAND YOUR MORTGAGE
What is the total cost of buying a home in Québec?
The listed price is not the amount you need available in your bank account. Separate the down payment, financing charges, transaction expenses and bills that arrive after closing.
Three amounts to keep separate
1. Down payment reduces the purchase amount being financed. 2. Closing expenses may include Québec insurance-premium tax, notary fees, inspections and property-tax adjustments. 3. Post-purchase expenses commonly include land transfer duty, utility bills and initial repairs.
When each amount is due matters just as much as the total. Treating all costs as due at signing is misleading.
Worked example: a $450,000 home
Assumptions: 10% down, an eligible insured mortgage amortized over 25 years, purchase in 2026 and the provincial base transfer-duty scale.
| Item | Illustrative amount |
|---|---|
| Down payment (10%) | $45,000.00 |
| CMHC premium financed (3.1% of $405,000) | $12,555.00 |
| Québec insurance-premium tax (9%, paid separately) | $1,129.95 |
| 2026 base land transfer duty on $450,000 | $4,860.50 |
| Partial cash reserve, excluding other costs | $50,990.45 |
The financed CMHC premium raises the mortgage principal to $417,555; it is not added again to cash required. Transfer duty is generally billed after acquisition. Add notary, inspection, adjustments, moving and other costs separately.
Monthly ownership costs
Mortgage payments normally cover principal and interest, not automatically municipal and school taxes, home insurance, heat, maintenance or condo fees. Use the optional ownership budget in the free Québec mortgage calculator to include the expenses you actually know.
Check potential 2026 tax benefits
For qualifying 2026 acquisitions, a Québec homeownership tax credit can reimburse up to $5,875 of land transfer duties already paid. Eligible first-time buyers of new homes may also qualify for a federal GST rebate of up to $50,000. These are not automatic deductions and their qualifying conditions differ.
What to confirm before making an offer
Obtain property-specific notary and inspection estimates, municipal and school taxes, any condo charges, assessed-value information for transfer duties, and mortgage-insurance eligibility. The 2026 land transfer tax tool applies published municipal scales for its listed cities and shows only a provincial minimum in other locations where a higher rate may apply.
Official sources and limitations
Data and rules checked November 4, 2026. Illustrative figures only; lender terms and eligibility are not guaranteed.