Your first home, made simple
Buying your first home can feel like a lot to take in. We help you understand your budget, down payment options, available programs and mortgage choices so you can move forward with confidence.
Buying your first home in Quebec is exciting, and a little daunting. Here's the whole path, step by step, plus the programs that put money back in your pocket.
- 1
Know what you can afford
Lenders qualify you on your income, debts, and down payment, stress-tested at a higher rate. Our affordability calculator gives you a realistic number in seconds.
- 2
Save your down payment
The minimum is 5% on the first $500,000 and 10% on the portion above (up to $1.5M). Under 20% requires CMHC insurance. First-time buyers can also draw on RRSP savings, see below.
- 3
Get pre-approved
A pre-approval confirms exactly what you qualify for and holds a rate while you shop, so you can make a confident, competitive offer.
- 4
Use first-time buyer programs
There's real money here, the Home Buyers' Plan, the First-Time Home Buyers' Tax Credit, and Quebec welcome-tax considerations. We flag every one you qualify for.
- 5
Make your offer & close
Once your offer is accepted, your notary handles closing. Budget roughly 1.5-4% of the price for closing costs, welcome tax, notary, inspection, and adjustments.
Programs worth knowing
Home Buyers' Plan (HBP)
Withdraw from your RRSP tax-free toward your down payment, repaid over time.
First-Time Home Buyers' Tax Credit
A federal non-refundable credit that offsets closing costs.
Quebec welcome tax
A one-time transfer tax due after closing, our calculator estimates it for your municipality.
Start with your numbers
See what you can afford in two minutes, then get pre-approved with a broker.
General guidance, not financial advice. Program rules and amounts change, we'll confirm what applies to you.