Down payment math, welcome tax, FHSA, HBP, CMHC — explained plainly. Free 30-minute call. Bilingual EN / FR.
The honest version: most first-time buyers in Montréal need between $35,000 and $70,000 in liquid funds to close on a $450,000–$600,000 property. That breaks down into your down payment, welcome tax, notary, inspection, and a small buffer. The exact number depends on the purchase price, the borough, and whether you qualify for the Montréal Home Ownership Program rebate.
5% on the first $500K, 10% on the portion to $1.5M. Below 20% triggers CMHC insurance — added to your mortgage, not paid upfront.
Roughly 1–1.5% of purchase price in Montréal. Due 30–60 days after closing. First-time buyers in the City of Montréal can apply for up to $5,000 back.
FHSA: up to $40K tax-free for a first home. RRSP HBP: up to $60K tax-free, repayable over 15 years. Stack both — most first-time buyers do.
Notary: $1,200–$1,800. Inspection: $500–$800. Mortgage appraisal: $300–$500. Plan a buffer of $3,500–$5,000 above your down payment.
Mortgage stress test uses the higher of contract rate + 2% or 5.25%. On a $90K income with no debt, that's typically a $400K–$460K mortgage. Use the Mortgage Calculator and we'll validate on the call.
Condos in Saint-Henri, Verdun, Rosemont, Villeray ($380K–$550K). Starter houses in DDO, Pierrefonds, Laval-Auteuil, Vaudreuil ($500K–$680K). The West Island and South Shore have the best inventory under $550K.
If you'll stay 5+ years, all three work. House-hacking a duplex/triplex (live in one unit, rent the other) lets you qualify with 5–10% down AND start building rental income. We've helped 6+ first-time buyers do this in 2025.
No pressure, no obligation. We map your numbers and your timeline on one call.