Home Buying Process and Mortgage in Quebec — 2026 Guide

Verified by OACIQ — Updated on July 1, 2026

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Buying property in Quebec involves a structured process that takes an average of 60 to 120 days from the first steps to receiving the keys. Understanding each step avoids unpleasant surprises and allows you to act quickly in a competitive market.

Mortgage pre-approval is always the first step, even before looking for your property. It defines your real budget, strengthens your purchase offer in the seller's eyes and allows you to act quickly when the right property comes along.

Key Points

Step 1: Pre-approval (1–5 days)

Submit your file to an OACIQ broker. You'll receive an approved maximum amount and a guaranteed rate (60 to 120 days). Documents: 2 pay stubs, 2-year notice of assessment, 3-month bank statement.

Step 2: Property search (2–12 weeks)

With your real estate broker (separate from your mortgage broker), search for properties within your pre-approved budget. Visit at least 5 to 10 properties before making an offer.

Step 3: Purchase offer (1–7 days)

Your real estate broker drafts the purchase offer. It includes the price, conditions (inspection, financing) and possession date. The seller has 24-48 hours to accept, refuse or counter.

Step 4: Pre-purchase inspection (1–2 weeks)

Have a certified building inspector inspect (cost: $400 to $700). The report may reveal defects that allow you to renegotiate or cancel the offer without penalty.

Step 5: Financing confirmation (2–4 weeks)

Your OACIQ broker finalizes your file and obtains financing confirmation from the lender. This document lifts the financing condition from your purchase offer.

Step 6: Notary signing (1 day)

The notary prepares the mortgage deed and sale deed. You sign, the lender releases funds, and the seller receives payment. Notary fees: $1,500 to $3,000.

Documents Required for a Mortgage Application in Quebec

Category	Value
Valid ID	Passport or driver's license
Proof of income	2 recent pay stubs
Notice of assessment	Last 2 years (CRA)
Bank statement	Last 3 months
Employment contract	If employed less than 2 years
Signed purchase offer	For financing confirmation

Frequently Asked Questions

How long is a mortgage pre-approval valid?+

Generally, a pre-approval is valid 60 to 120 days (depending on the lender). After this period, your file must be updated. Most OACIQ brokers can quickly renew your pre-approval if your documents are current.

Does pre-approval guarantee my rate?+

Yes, within its validity period. If rates rise during your search, you benefit from the rate guaranteed at pre-approval. If rates drop, your OACIQ broker can get you the best rate at finalization.

What closing costs should I expect in addition to the down payment?+

In addition to the down payment, plan for: notary fees ($1,500 to $3,000), CMHC insurance premium if applicable (2.8 to 4% of loan), welcome tax (land transfer tax, varies by city), pre-purchase inspection ($400 to $700), and home insurance ($150 to $250/month).

Can I buy property without permanent residence in Canada?+

Yes, but conditions are stricter. Foreign buyers typically need a 35% down payment and lenders are more limited. In 2024-2025, additional restrictions were imposed on non-resident buyers in some provinces. Consult an OACIQ broker for your specific situation.