Best mortgage rates in Montreal.
Today’s best rate in Montreal is 3.50%. We compare Montreal mortgage rates across 100+ Canadian lenders and lock your best on one application — no bureau pull to start. Quebec files are placed by a mortgage professional licensed in Quebec, through our partner network.
The lowest rate on today’s board for Montreal is 3.50%. On the median single-family home price of $835,000, 20% down and the best 5-year fixed come to about $3,565/month; the smallest legal down payment is $58,500, and the welcome tax on that price is $12,049. Bilingual service is mandatory. Large duplex/triplex investor pool.
Desjardins5-year variable3.70%Apply 
TD Canada Trust3-year variable3.97%Apply 
Scotiabank2-year fixed3.99%Apply Scotiabank2-year fixed3.99%Apply Rates illustrative; your file (credit, income, LTV) sets your personalized rate. See all Quebec rates →
Financing an $835,000 home in Montreal
At this price Montreal buyers can take the insured route: only the slice above $500,000 needs 10% down, which keeps the minimum near 7% of the price. Saving to 20% would take another $108,500 and removes the $31,060 premium.
On the 20%-down loan, variable is $230 a month cheaper than fixed today.
The headline is a median single-family home price; the same release puts the condominium median at $483,500. A first purchase there needs $24,175 down and, insured, runs about $2,549 a month at the best 5-year fixed.
| At $835,000 | Minimum down | 20% down |
|---|---|---|
| Down payment | $58,500 | $167,000 |
| CMHC premium | $31,060 | None |
| Mortgage | $807,560 | $668,000 |
| Monthly, 5-yr fixed 4.14% | $4,309 | $3,565 |
| Monthly, 5-yr variable 3.50% | $4,032 | $3,335 |
| Stress-test payment at 6.14% | $5,234 | $4,330 |
25-year amortization, Canadian semi-annual compounding, best rates on today’s board. The stress test qualifies you at the greater of the contract rate plus 2 points or 5.25%. Illustrative, O.A.C. Model your own numbers in the payment calculator.
Montreal welcome tax
Quebec calls it the welcome tax, and Montreal sets its own brackets above the provincial base. On the $835,000 median single-family home price the 2026 Montreal grid gives $12,049, with the municipal rate of 2.0% starting at $552,300.
It is billed by the municipality a few months after closing rather than at the notary's table, must be paid in cash and cannot be added to the mortgage.
Quebec's 2026 first-time-buyer credit is reduced between a $750,000 and $1,000,000 home value — which is where this price sits — and the province has not published the reduction formula, so we don't put a number on it.
The Montreal market behind your rate
The $835,000 figure is Montreal’s median single-family home price for Q2 2026, from Island of Montréal median price, single-family homes — Centris (APCIQ). The same release counts 1,350 sales, with average days on market of 41 days (Centris (APCIQ) Q2 2026, Island of Montréal) — slow enough that it pays to time a rate hold to your offer rather than to the start of the search.
- Single-family: $835,000 · 1,350 sales · 41 days
- Condominium: $483,500 · 2,678 sales · 53 days
- Plex (2–5 units): $910,000 · 845 sales · 44 days
Our Montreal guide works through the 2 questions that decide most files here:
- Divided or undivided: the ownership question that decides your lender list. Quebec has an ownership form most of Canada does not, and on the Island of Montréal it is common enough to catch buyers who have never met it.
- The Montréal plex ladder, and the line at the fifth door. Plexes are not a niche here.
How Montreal neighbourhoods change the file
Condo stock runs through 5 of these 6 Montreal pockets, which means the building is underwritten alongside you: a review of the condominium corporation's disclosure documents matters as much as your income.
Plateau Mont-Royal
Plex (duplex to sixplex) and walk-up condoThe defining Montréal file. Two to four units is residential lending with a rental offset and its own minimum down payment; five or more crosses into commercial, where the panel and the underwriting change entirely. Exterior staircases and undivided (indivis) co-ownership both narrow the lender list further.
Ville-Marie
Downtown and Old Montréal condo, plus heritage conversionTower and conversion stock where the syndicate is underwritten alongside you — contingency fund, pending special assessment and the building's rental share each move the lender list before your income is read. It is also the band where Montréal's welcome tax stops being a rounding error: the city's 2% bracket starts at $552,300 and its grid runs to 4%, higher than any other municipality in Quebec is permitted to charge.
Outremont
Upper-band plex and detachedPlex ownership at a price band that is usually uninsurable — the two rules stack, so expect a conventional multi-unit file with a rental offset and a narrower panel than either alone would imply.
Saint-Laurent
Post-war detached, semi and newer condoOne of the more attainable bands on the island and comfortably insurable. Newer condo stock brings the syndicate's contingency fund and any special assessment into the underwriting alongside your income.
NDG
Walk-up condo and plex, 1920s–50sOlder divided and undivided co-ownership sits side by side here, and the difference matters: undivided (indivis) co-ownership is financed by a short list of lenders at a higher minimum down payment, because you are buying a share rather than a titled unit.
Verdun
Plex and converted condo near the riverHeavy plex-to-condo conversion activity. A conversion that is not properly registered can fail the appraisal, and riverside siting brings flood mapping into both the appraisal and the insurance your lender requires before funding.
This page is the rate-shopping side. For pre-approval strategy, document help and a dedicated advisor, see our Montreal mortgage broker page.
