How to Get the Best Mortgage Loan in Quebec?
Getting a mortgage is one of the most important financial decisions of your life. A rate 0.3% lower on a $400,000 loan represents savings of $5,000 to $12,000 over 5 years. That's why it's essential to compare offers from multiple lenders before signing.
Our OACIQ-certified mortgage brokers analyze your situation, submit your file to 200+ partner financial institutions, and present you with the best available offers. All completely free.
Indicative Mortgage Rates in Quebec — July 2026
Indicative ranges — Actual rates depend on your file.
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Frequently Asked Questions
What is the best mortgage rate in Quebec in 2026?+
The best rates vary by term and type (fixed or variable). In 2026, 5-year fixed rates range from 4.5% to 5.2% depending on the lender. An OACIQ mortgage broker can get you the lowest market rates.
What down payment is required in Quebec?+
The minimum down payment is 5% for properties under $500,000, 10% for the portion between $500,001 and $999,999, and 20% for properties $1,000,000 and over. With less than 20%, CMHC insurance is mandatory.
Fixed or variable rate: which to choose?+
Fixed rates offer payment stability for the full term. Variable rates fluctuate with the Bank of Canada's key rate. Historically, variable rates have often been more advantageous long-term, but fixed offers more predictability.
How much can I borrow for my mortgage?+
Your borrowing capacity depends on your income, current debts, and down payment. Generally, the Gross Debt Service (GDS) ratio should not exceed 32% of gross income, and Total Debt Service (TDS) 44%.
What is CMHC insurance?+
CMHC mortgage loan insurance is mandatory if your down payment is less than 20%. The premium ranges from 2.8% to 4% of the borrowed amount depending on your down payment.
What is the maximum amortization period in Quebec?+
The maximum amortization for a CMHC-insured mortgage is 30 years (25 years for properties $1M+). For uninsured mortgages (20%+ down payment), some lenders offer up to 30 years.