Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Longueuil homebuyers.
Based on $$490,000 average home price at current Quebec rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $24,500 | $18,620 | $484,120 | $2,794/mo | $2,377/mo |
| 10% | $49,000 | $13,671 | $454,671 | $2,624/mo | $2,233/mo |
| 15% | $73,500 | $11,662 | $428,162 | $2,471/mo | $2,102/mo |
| 20%NO CMHC | $98,000 | $0 ✅ | $392,000 | $2,262/mo | $1,925/mo |
The average home price in Longueuil is approximately $490,000 as of 2026, representing a +3.2% change year-over-year.
Current 5-year fixed rates in Longueuil start around 4.87%, while variable rates start around 3.32%. Credit unions in Quebec often offer rates 0.25–0.50% below major banks.
To afford a $490,000 home in Longueuil with 10% down at 4.87%, you would need approximately $78,308/year gross income to meet the GDS ratio of 39%.
For a $490,000 home, the minimum down payment is 5% ($24,500). With 5% down, CMHC insurance of $18,620 is added to your mortgage.
With the Bank of Canada holding at 2.25%, variable rates (3.32%) are currently lower than 5-year fixed (4.87%). Variable saves money if rates stay flat or drop, but fixed gives payment certainty. Consult a mortgage broker for your specific situation.