Mortgage broker in Montreal
One application, 65+ lenders, and Quebec pricing that reflects today's market — not the single rate your bank happens to offer.
Get my rate →What does a mortgage cost in Montreal right now?
A typical home in Montreal costs around $620,000. With the federal minimum down payment of $37,000 and default insurance added, the mortgage comes to roughly $606,320 — about $3,236 a month at 4.14% over a 25-year amortization.
Montreal buyers pay the welcome tax (taxe de bienvenue) calculated on the greater of purchase price and municipal assessment, and the city adds higher brackets on expensive homes.
- Typical Montreal home price: about $620,000.
- Minimum down payment: $37,000.
- Estimated monthly payment at 4.14% over 25 years: $3,236.
- Estimated closing taxes and registration: $7,454.
The Montreal numbers, line by line
- Benchmark purchase price
- $620,000
- Minimum down payment
- $37,000
- Mortgage before insurance
- $583,000
- Default insurance premium
- $23,320
- Total mortgage
- $606,320
- Monthly payment at 4.14%
- $3,236
- Land transfer tax / registration
- $7,454
Prices are rounded market estimates and payments exclude property tax, heat and condo fees. Run your own figures in the payment calculator or the land transfer tax calculator, and see today's Quebec rates.
What 8Twelve does for Montreal borrowers
- Purchases and pre-approvals for Montreal buyers, including new builds and condos.
- Renewals and lender switches at maturity — no penalty, and most lenders cover the legal costs.
- Refinancing and equity takeout for renovations, investments or tuition.
- Debt consolidation, rolling high-interest balances into one mortgage payment.
- Self-employed, new-to-Canada and rental-income files that a single bank's policy would turn down.
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Montreal mortgage questions
How much do I need for a down payment in Montreal?
On a $620,000 home in Montreal — a typical price for the market — the federal minimum down payment is $37,000. That is 5% of the first $500,000 and 10% of the portion above it. Below 20% down the mortgage must be insured, which adds a premium of roughly $23,320 to the balance.
What are mortgage payments like in Montreal?
At 4.14% over a 25-year amortization, a $620,000 purchase in Montreal with the minimum down payment works out to roughly $3,236 a month in principal and interest. Property tax, heat and condo fees are on top of that.
How much is land transfer tax in Montreal?
Closing taxes in Montreal come to about $7,454 on a $620,000 purchase. Quebec's welcome tax ('taxe de bienvenue') is based on the greater of purchase price and municipal assessment. Montreal and some other cities add higher brackets on expensive homes. First-time buyer rebates can reduce this where the province offers them.
Does 8Twelve have mortgage agents licensed in Montreal?
Yes. 8Twelve Mortgage is licensed in Quebec and works with Montreal homeowners and buyers across purchases, renewals, refinances and debt consolidation, with access to more than 65 lenders rather than a single bank's rate sheet.
Is a mortgage broker better than my bank in Montreal?
A bank can only offer its own products. A broker shops the same application across banks, credit unions, monoline lenders and alternative lenders, then presents the best approval. For Montreal borrowers with self-employment income, rental income or a thin credit file, that breadth is usually the difference between an approval and a decline.
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Learn moreBest available rate from 8Twelve's lender panel, subject to qualification and lender approval. OAC.