Montréal Mortgage Calculator
Free Montréal mortgage calculator with Quebec Welcome Tax, local property tax rates, and 2024 housing data. Calculate your monthly payment instantly — no sign-up required.
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<ins> tagMontréal Housing Market Data
Montréal Property Tax & Transfer Tax
Property Tax Rate: Approximately 0.73% of assessed value annually (avg. $4,307/year on average home). Quebec's Welcome Tax (Taxe de bienvenue) applies. On a $590,000 purchase in Montréal, the Welcome Tax is approximately $7,350 (0.5% on first $58,900, 1.0% on $58,901–$294,600, 1.5% on the remainder). Montréal also adds a municipal surcharge of 0.5% on amounts over $500,000, bringing the effective rate higher on expensive properties.
CMHC mortgage insurance is required for down payments under 20%. Montréal homes are generally under the $1.5M CMHC limit. Quebec first-time buyers may access the federal FHSA and HBP, plus Quebec's Home Ownership Program (Accession à la propriété).
Montréal Homebuyer Guide
Quebec Welcome Tax (Taxe de Bienvenue)
Montréal buyers pay Quebec's Welcome Tax (Taxe de bienvenue) at closing. On a $590,000 purchase, the tax is approximately $7,350. Montréal adds a municipal surcharge of 0.5% on amounts over $500,000. There is no first-time buyer exemption for the Welcome Tax in Quebec. Budget for this as a significant closing cost.
Montréal's Unique Market
Montréal offers a distinctive real estate market with a mix of historic plexes (duplexes/triplexes), condos, and detached homes. Average prices of ~$590,000 are lower than Toronto or Vancouver. The market is bilingual, and many transactions involve notaries rather than real estate lawyers. The city has strong rental demand and a vibrant cultural scene.
Property Tax Rates
Montréal's residential property tax rate is approximately 0.73% of assessed value — one of the lower rates among major Canadian cities. On a $590,000 home, this equals roughly $4,307/year or $359/month. Rates are set by the Ville de Montréal and vary slightly by borough.
Notary Requirement in Quebec
Unlike other provinces, Quebec requires a notary (notaire) to complete real estate transactions — not a real estate lawyer. Notary fees for a purchase are typically $1,200–$2,000. The notary handles title search, mortgage registration, and deed preparation. Budget for this in your closing costs.
Montréal Neighbourhoods to Consider
Popular areas include Plateau-Mont-Royal (trendy, walkable, premium), Rosemont (family-friendly, good value), Outremont (upscale, French-speaking), Verdun (up-and-coming, affordable), and Laval/Longueuil (suburban, more affordable). The Sud-Ouest and Saint-Henri neighbourhoods are popular with young professionals.
Quebec-Specific Mortgage Considerations
Quebec uses a hypothec (hypothèque) rather than a mortgage — functionally similar but with different legal terminology. Quebec notaries handle mortgage registration. The federal stress test applies equally in Quebec. First-time buyers can access the FHSA ($8,000/year), HBP ($35,000 from RRSP), and Quebec's Régime d'accession à la propriété (RAP).
<ins> tagMontréal Closing Cost Estimator
Estimate your total closing costs including land transfer tax, legal fees, title insurance, and more — with first-time buyer rebate support.
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About Our Montréal Mortgage Calculator
Our free Montréal mortgage calculator uses current Canadian mortgage standards including semi-annual compounding as required by the Bank Act. Enter your home price, down payment, interest rate, and amortization period to instantly calculate your monthly, bi-weekly, or weekly mortgage payments.
The calculator automatically accounts for CMHC mortgage insurance if your down payment is less than 20%, which is required for all insured mortgages in Canada. It also allows you to include Montréal's property taxes and home insurance for a complete picture of your monthly housing costs.
Disclaimer: All calculations are estimates for informational purposes only. Actual mortgage terms, rates, and payments will vary based on lender requirements, credit profile, and market conditions. Consult a licensed mortgage professional for personalized advice. No data entered on this site is collected or stored.