What does a first-time buyer mortgage work out to on Montreal's Q2 2026 median price?+
Island of Montréal median price, single-family homes — Centris (APCIQ) put the Montreal median at <strong>$835,000</strong> for Q2 2026. For a first-time buyer mortgage that makes the legal minimum down about <strong>$58,500</strong> (5% to $500,000, 10% above, 20% over $1.5M). The same board counted 1,350 Montreal sales in Q2 2026, with an average days on market of 41 days. Your own property and balance replace these numbers on the file.
How much does the first-time buyer mortgage figure change between condominium and plex (2–5 units) in Montreal?+
Montreal's board publishes each segment separately, and the gap is the point. At the condominium median of $483,500 the legal minimum down is about <strong>$24,175</strong>; at the plex (2–5 units) median of $910,000 it is about <strong>$66,000</strong>. The table on this page carries every row from the same Q2 2026 release.
What transfer tax applies to an $835,000 purchase in Montreal?+
About <strong>$12,049</strong> at the median. It is paid in cash on closing (or, in Quebec, billed by the municipality afterwards) and cannot be added to the mortgage. Our <a href="/land-transfer-tax-calculator">land transfer tax calculator</a> runs your own price.
What's the average first-time buyer file size in Montreal?+
Montreal's median single-family home price is approximately $835,000, so the typical first-time buyer file we see here sits in the $709,750–$960,250 band. Your specific neighbourhood and property type can move that materially.
What does a first-time buyer mortgage cost on a typical Montreal home?+
On Montreal's $835,000 median single-family home price, a representative first-time buyer file at minimum down works out to about $58,500 down and roughly $3,881/mo (principal + interest at 4.09% over a 30-year amortization). Budget about $12,049 for Montreal’s welcome tax on top, which the city bills months AFTER closing rather than collecting on the day. Your exact numbers depend on the property and your file — we run them precisely before you commit.
Why compare lenders for a first-time buyer mortgage in Montreal?+
Because the lender decides more than the rate: how Montréal property types are read, how much of your income counts, and what the file costs to move. In Quebec the file is placed by a mortgage professional licensed in Quebec, through our partner network.
How much do I need for a down payment in Montreal?+
On the $483,500 condominium figure, the legal minimum is $24,175 — 5%. The whole purchase sits under the $500,000 threshold, so the flat 5% rule genuinely applies here. Anything under 20% down also means a default-insurance premium — 4.00% on this file, or $18,373, financed into the mortgage. We model the insured and conventional paths side by side so the choice is yours rather than the lender's.
What are the closing costs for a first-time buyer in Montreal?+
Budget roughly $5,076 beyond the $24,175 down payment on a $483,500 purchase: $272 in welcome tax after the $5,091 rebate, about $1,800 in legal fees, $350 for title insurance, $500 for an inspection, $1,654 of provincial sales tax on the insurance premium, and around $500 in adjustments for prepaid property tax and utilities. Add $300-$500 if the lender orders an appraisal. All of it is cash at closing — the insurance premium itself is the one item that gets financed, and in Ontario, Quebec and Saskatchewan the tax on that premium specifically cannot be.
Who regulates a first-time buyer mortgage in Quebec?+
Mortgage brokering in Quebec is regulated by the AMF (Autorité des marchés financiers). Mortgage Squad Advisors is licensed by FSRA in Ontario (Brokerage #13737) and serves clients across Canada: Quebec files are processed by licensed mortgage professionals in your jurisdiction through our partner network, in compliance with AMF requirements. All advisors are FINTRAC-trained. Ask us for the registration details that apply to your file.
