Buyer's Guide

Step 1

Are you ready to buy?

Nine quick questions to measure how ready you are. You get a score and a clear list of your next steps.

Language spoken

Select every language you are comfortable in.

Step 2

Financing and pre-approval

Before visiting homes, we want to know how much you can borrow. A pre-approval gives you a clear budget, holds a rate for a while (often 90 to 120 days) and makes your offer more credible to a seller.

What the bank or caisse looks at

Down payment: at least 5% on the first $500,000, 10% on the portion between $500,000 and $1.5M, and 20% from $1.5M.
The stress test: you must qualify at the higher of these two rates: 5.25%, or your rate + 2%.
Your debt ratios: housing costs (mortgage, taxes, heating) should stay around 39% of your gross income at most, and all your debts around 44% at most.
Your credit: a good history and a solid score. A minimum of about 600 is often required for an insured mortgage.
Your job: stability (probation completed, seniority). Self-employed buyers are usually asked for 2 years of tax returns.
Where the down payment comes from: statements for the last 90 days, and a gift letter if a relative is helping you.

Documents to prepare

Photo ID
Recent employment letter and your last 2 pay stubs
Notices of assessment for the last 2 years (especially if self-employed)
Statements for your accounts, RRSP, TFSA, FHSA
List of your debts (car, cards, line of credit, student loan)
If you already own a property: mortgage statement and tax bill

Good to know for a first purchase: 30-year amortization is possible, FHSA (up to $40,000 per person), HBP (RRSP withdrawal up to $60,000) and, since 2026, a provincial welcome tax refund of up to $5,875.

Calculate your down payment and costs

Target purchase price Your down payment

Interest rate

%

Amortization

Starting rate: about 4.25% (5-year fixed, November 2026). Change it to see your payments move.

First-time buyer

Don't forget: notary fees and the pre-purchase inspection are extra. Ask your notary and your inspector for a quote.

Estimate only. The welcome tax uses the basic 2026 brackets (0.5% / 1% / 1.5%); some cities charge higher rates above $500,000. Your mortgage broker will confirm your exact numbers.

Mortgage broker or bank specialist?

A mortgage broker shops several lenders for you. That helps you compare, and is useful if your file is unusual (self-employed, newcomer, credit to rebuild). The service is usually free for you.

The mortgage specialist at your caisse or bank already knows your file and may offer advantages tied to your relationship with the institution.

Not sure which to choose? We'll refer you to someone we trust.

I am a newcomer or foreign worker: show the rules that apply to me

Step 3

Your search criteria

The secret to an efficient search is separating what is non-negotiable from what can flex. Fill in your profile: we use it to send you only the homes that fit you.

Area(s) you want

Property type

Minimum price

Maximum price

Bedrooms (min.)

3

Bathrooms (min.)

1

Preferred move-in date

Pre-approval

Your features

Must-have (non-negotiable)Bonus (flexible)Not neededNot at all (avoid)

Other non-negotiable criterion

Other nice-to-have

Something else you don't want at all

Get new listings as soon as they hit the market

Save time: send us your profile, we set up a personalized alert and you receive the new listings that match your criteria, straight from your broker.

See our properties for sale too: www.equipecormierstonge.com

Your profile

Step 4

Visits and the promise to purchase

We only visit homes that meet your non-negotiables. When you fall in love with one, we help you make a strong offer that protects you.

Before the visit

Contact a real estate broker you trust. They will guide you, advise you and go over the pros and cons of each home with you.
Bring your criteria profile.

During the visit

Look past the decor: roof, windows, foundation, basement, humidity.
Renovations: take the time to think through the ones you want to do. Renovating every year can cost more than paying a little more up front. It all depends on your budget.
Do you feel good in the house? Does it bring your must-haves together?
Ask yourself whether some secondary features could let you give up one of your must-haves.
Try the commute to work or school.

Open the visit checklist Printable version

The promise to purchase

Build a good buying strategy: price, conditions, dates, inclusions and exclusions.
Your broker will be there to guide you through this step.
Remember to stay within your pre-approval and your budget.

Your conditions

Financing: the offer depends on final loan approval
Pre-purchase inspection by a qualified inspector
Documents: certificate of location, seller's declarations, tax bills
Sale of your property, if that applies to you

Why use a real estate broker to buy? They have access to the homes for sale, but above all to experience and to comparable homes sold recently in the area. They negotiate for you and follow every deadline until signing.

I want a broker to help me

Click the broker of your choice to write to them.

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Read what our clients say about Équipe Cormier St-Onge.

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Step 5

Notary, surveyor and getting the keys

Once the offer is accepted and the conditions are lifted, a few final steps remain. In Quebec, the buyer usually chooses and pays the notary.

Offer accepted
We track the deadlines: inspection, financing, documents.

Final loan approval
The bank does its appraisal, then you sign the loan offer.

Certificate of location
Provided by the seller. If it isn't up to date, a land surveyor prepares a new one.

Appointment at the notary
You sign the deed of sale and the mortgage deed, then the funds are transferred.

The keys!
The welcome tax bill arrives a few weeks later. For a first purchase, claim your refund from Revenu Québec (up to $5,875).
All the details on the Revenu Québec website

Plan for your closing costs

Plan on about 1.5% to 3% of the purchase price on top of your down payment:

Notary (deed of sale and mortgage)
Pre-purchase inspection
Welcome tax (transfer duties)
CMHC insurance premium: added to the mortgage
Municipal and school tax adjustments, heating oil if applicable
Moving, home insurance
Hook-ups: Hydro-Québec, Internet, etc.