Compare current fixed and variable mortgage rates, monthly payment estimates, and first-time buyer programs for Saguenay homebuyers.
Based on $$265,000 average home price at current Quebec rates.
| Down % | Down Amount | CMHC Fee | Mortgage | Monthly Fixed | Monthly Variable |
|---|---|---|---|---|---|
| 5% | $13,250 | $10,070 | $261,820 | $1,511/mo | $1,286/mo |
| 10% | $26,500 | $7,394 | $245,894 | $1,419/mo | $1,207/mo |
| 15% | $39,750 | $6,307 | $231,557 | $1,336/mo | $1,137/mo |
| 20%NO CMHC | $53,000 | $0 ✅ | $212,000 | $1,223/mo | $1,041/mo |
The average home price in Saguenay is approximately $265,000 as of 2026, representing a +4.2% change year-over-year.
Current 5-year fixed rates in Saguenay 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 $265,000 home in Saguenay with 10% down at 4.87%, you would need approximately $42,338/year gross income to meet the GDS ratio of 39%.
For a $265,000 home, the minimum down payment is 5% ($13,250). With 5% down, CMHC insurance of $10,070 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.