What a home costs in Montreal, what you pay to close, and how much a physician program lets you buy.
Benchmark price for Montreal, July 2026, from the CREA MLS Home Price Index, Montreal area, as published in the LSTAR July 2026 release. Montreal census metropolitan area. Other cities show the MLS Home Price Index benchmark unless marked. Figures reviewed August 2026.
A physician program could add
$0
to the home you can buy.
Estimate at 4.49%, stress tested at 6.49%, with 10% down, below the $1.5M insured limit.
Quebec municipalities charge a transfer duty, commonly called the welcome tax (droit de mutation), on a tiered scale based on the higher of purchase price or municipal valuation. On a $600,000 Montreal home the welcome tax is about $7,350. Quebec closings are handled by a notary rather than a lawyer, a process unique among Canadian provinces.
Sources: Ville de Montreal, how transfer duties are calculated. Rates reviewed August 2026.
Physician programs qualify residents on $185,000 in PGY-1 and PGY-2 and $225,000 from PGY-3, not on these salaries.
FMRQ, Entente FMRQ-MSSS 2021-2028, annexe I, in effect from April 2026.
What is the welcome tax in Montreal?
The welcome tax (droit de mutation) is a transfer duty charged by Quebec municipalities on a tiered scale based on the higher of purchase price or municipal valuation. On a $600,000 Montreal home it comes to about $7,350.
Why are Quebec closings handled by a notary?
Quebec uses a civil law system, so real estate closings are handled by a notary rather than a lawyer as in the rest of Canada. The notary prepares the deed, registers the mortgage, and disburses funds.
Which lender is best for Montreal physicians?
A Quebec-based bank program has deep provincial presence and handles both personal and corporate income paths cleanly, making it a natural fit for many Montreal physicians, particularly incorporated attendings. A broker compares it against the other physician programs and monolines.
