Complete First-Time Buyer Guide — Quebec 2026

FHSA, HBP, CMHC insurance, 30-year amortization, and buying steps: everything you need to know before purchasing your first home in Quebec.

Last updated: March 25, 2026 · 12 min read

Buying Your First Home in Quebec in 2026

The Quebec real estate market in 2026 offers first-time buyers an unprecedented set of tools and programs. Between the FHSA, the increased HBP, and 30-year amortization on insured mortgages, the door to homeownership has never been wider. This complete guide details every program, every step, and every pitfall to avoid.

At Anthony King — Architectes Hypothécaires, we help dozens of first-time buyers every year in Montreal and across Quebec. This guide reflects the real-world realities our clients experience on the ground, not theoretical generalities.

The FHSA — Your Best Ally for the Down Payment

The First Home Savings Account (FHSA) is the most advantageous program for future homeowners in Canada. Created in 2023, it combines the benefits of the RRSP and the TFSA.

Lifetime limit of $40,000

You can contribute up to $40,000 over your lifetime to your FHSA. Every dollar contributed is deductible from your taxable income, like an RRSP.

Annual maximum of $8,000

You can contribute up to $8,000 per year. Unused contribution room carries forward to the following year, up to a maximum carry-forward of $8,000.

Tax-free withdrawal

Unlike the RRSP, withdrawals for the purchase of a first home are entirely tax-free. No repayment required.

Optimal strategy: open your FHSA as soon as possible, even if you are not buying immediately. The 15-year clock starts when the account is opened. A couple can accumulate up to $80,000 combined.

The HBP (Home Buyers’ Plan)

The Home Buyers’ Plan (HBP) lets you withdraw funds from your RRSP to finance the purchase of your first home.

$60,000 per person

Since April 2024, the HBP limit has been raised from $35,000 to $60,000 per person. A couple can therefore withdraw up to $120,000 combined.

Repayment over 15 years

The HBP must be repaid into your RRSP over 15 years, at a rate of 1/15 per year. The grace period before the first repayment is 5 years (before 2026, it was 2 years).

FHSA + HBP: both programs are stackable. A couple that maximizes both can have up to $200,000 ($80,000 FHSA + $120,000 HBP) for the down payment, not counting investment returns.

CMHC Mortgage Insurance — Understanding the Tiers

When your down payment is less than 20% of the purchase price, mortgage insurance is mandatory in Canada. Here are the CMHC premium tiers in 2026:

Down payment 5% to 9.99% → premium of 4.00% of the loan amount
Down payment 10% to 14.99% → premium of 3.10%
Down payment 15% to 19.99% → premium of 2.80%
Down payment 20% and above → no insurance required (conventional mortgage)

The CMHC ceiling was raised to $1.5 million in December 2024. This means you can purchase a property up to $1.5M with as little as 5% down on the first $500,000 and 10% on the remainder.

The insurance premium is added to your mortgage amount — you do not pay it in cash. It is spread across your monthly payments.

30-Year Amortization — The December 2024 Rule

Since December 15, 2024, first-time buyers and buyers of new construction can choose a 30-year amortization on an insured mortgage (down payment less than 20%). Previously, the limit was 25 years for all insured loans.

Real impact: on a $400,000 mortgage at 4.00%, going from 25 to 30 years of amortization reduces the monthly payment by approximately $200. This can represent the difference between qualifying or not for your desired amount.

Caution: a longer amortization means more total interest paid over the life of the loan. It is not free — it is a qualification tool that should be used strategically. Nothing prevents you from making accelerated payments or lump-sum contributions to reduce your actual amortization.

Who qualifies for 30 years? First-time buyers (no property owned in the last 4 years) AND buyers of new construction. The two conditions are NOT cumulative — either one is sufficient.

Welcome Tax (Land Transfer Tax) in Quebec

In Quebec, land transfer duties (commonly called “welcome tax”) are calculated in tiers:

$0 to $58,900 → 0.5%
$58,901 to $294,600 → 1.0%
$294,601 to $500,000 → 1.5%
$500,001 and above → 2.0% (3.0% in Montreal above $1M)

For a $450,000 property in Montreal, expect approximately $5,625 in transfer duties. This amount is payable within 30 days of the property transfer — it is NOT financed into your mortgage.

Some municipalities offer credits or partial reimbursements for first-time buyers. Check with your municipality.

Notary vs. Lawyer — Quebec’s Unique System

Quebec uses civil law (Code civil du Québec), unlike the rest of Canada which uses common law. In Quebec, real estate transactions are concluded before a notary, not a lawyer.

The notary plays a crucial role: they verify property titles, ensure there are no title defects, prepare the deed of sale and the mortgage deed, and handle the registration at the Land Registry. Expect between $1,500 and $2,500 in notary fees for a standard residential purchase.

Anthony King’s advice: choose a notary experienced in real estate. Some notaries offer all-inclusive packages. Do not wait until the last minute to retain your notary — the spring market creates a bottleneck.

Mortgage Pre-Approval — Your First Step

Before visiting properties, get a mortgage pre-approval. This is not a simple online estimate — it is a complete analysis of your financial profile by a broker or bank.

You know your real budget (not a theoretical amount)
You lock in an interest rate for 120 days (protection against increases)
Your offer is more credible to sellers
Potential issues (credit, income) are detected before viewing, not after the offer

At Anthony King, the pre-approval simultaneously compares 14 lenders. You do not receive a single rate — you receive the best rate suited to your specific profile.

Learn more about pre-approval →

Buyer Timeline — Step by Step

Step 1: Preparation (3–12 months before)

Open an FHSA, check your credit score (target 680+), build a fund for closing costs (plan for 3–5% of the purchase price).

Step 2: Pre-approval (2–3 months before)

Meet with a mortgage broker, provide your documents (T4, bank statements, notice of assessment) and obtain your multi-lender pre-approval.

Step 3: Search and offer to purchase

Visit properties within your budget, make an offer with conditions (inspection, financing). Standard timeline in Quebec: 10 business days to waive conditions.

Step 4: Final financing (after acceptance)

Your broker submits the complete file to the selected lender. Inspection, appraisal if needed, and final approval.

Step 5: Closing at the notary

Signing of the deed of sale and mortgage deed. Key handover. Expect these costs: notary ($1,500–$2,500), transfer duties (variable), tax adjustments.

Top 3 Mistakes to Avoid According to Anthony King

Not comparing lenders. Your bank is not necessarily your best choice. The spread between the best and worst rate can exceed 0.50% — that is more than $10,000 in interest over a 5-year term.
Forgetting closing costs. Beyond the down payment, plan for 3 to 5% of the purchase price for notary fees, transfer duties, inspection, moving, and tax adjustments.
Not using all available programs. FHSA + HBP + 30-year amortization + $1.5M CMHC ceiling form a complete arsenal. Too many first-time buyers miss out on thousands of dollars in benefits through lack of awareness.

Anthony King, AMF-certified mortgage broker #254937

This article is provided for informational purposes only and does not constitute financial advice. Every situation is unique; consult a qualified professional before making any financial decision.

Montreal first-time buyer program →

Fixed vs. variable rate — our guide →