How

much

down

payment

do

you

need

for

a

house

in

Quebec?

Discover the down payment rules in Quebec and how to plan the purchase of your property in Montérégie.

A common question from prospective buyers in Sorel-Tracy is: "How much do I need to save for my down payment?" The rules in Quebec are clear, but they depend on the purchase price.

The basic rules (CMHC)

For a property of $500,000 or less, the minimum down payment is 5%. If the price is between $500,000 and $1,000,000, you will need to provide 5% on the first $500,000 and 10% on the remaining portion.

The impact of your down payment

A down payment of less than 20% requires the purchase of mortgage loan insurance (CMHC, Sagen, or Canada Guaranty). Working with a mortgage broker in Montérégie allows you to evaluate whether saving a larger down payment is worth the wait or if it's better to buy now.

Ready to take the next step? Our team of partner brokers is available to review your unique situation and provide tailored advice that aligns with your long-term financial goals.