Worked example · Verified 2026-09-12

How much condo a $200,000 Quebec salary actually buys

Two hundred thousand on a Quebec condo is a professional-couple file, often in Montreal or Quebec City, with a car and a fee. This page puts the fee in the engine so the cap is not a detached fantasy. Heating on a mid-rise is lower than a house, which gives a little GDS back; the fee takes more than that little. Notary costs and the Welcome Tax are the closing-cash plot. This is not a Montreal-bracket tax page; municipal Welcome Tax overlays belong with the land-transfer-tax examples.

The Quebec condo salary pins 4.79% (qualifying 6.79%). Syndicate fees are an input, not a live market index; update them before you trust $847,643. Live rates hub.

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Computed result

Gross annual income$200,000
Down payment available$80,000
Contract rate (pinned)4.79%
Qualifying rate (MQR)6.79%
Maximum purchase price$847,643
Maximum mortgage$767,643
Estimated P&I at max price$4,548.00
GDS at max price3900.0%cap 39%
TDS at max price4080.0%cap 44%
Default insurance$30,706required
ProvinceQuebec

Half the condo fee, all of the qualifying rate

Canadian GDS counts fifty percent of condo fees, not zero and not one hundred. That half-fee is why a Quebec copropriété with a healthy reserve fund can still bind a two-hundred-thousand-dollar salary that would look fine on a detached file. Welcome Tax is not in GDS. It arrives as a municipal invoice, sometimes after possession, and it is the reason a Quebec condo buyer keeps a cash buffer the engine cannot see. The hypothec is still qualified at the prescribed rate. Civil Code mechanics change the closer, not the ratio.

  1. 01 · MQR

    max(5.25%, 4.79% + 2) = 6.79%.

  2. 02 · Rooms

    GDS 39% of $16,667 = $6,500.00. TDS 44% = $7,333.33 minus debts $300. Binding: GDS.

  3. 03 · Cap

    Max purchase $847,643; mortgage $767,643; insurance $30,706 (required); P&I $4,548.00.

What this band means

Income $200,000, condo fees $450.00 (half of that in GDS), other debts $300. Max purchase $847,643, mortgage $767,643, insurance $30,706 (required). Binding GDS. GDS 3900.0%, TDS 4080.0%. Contract 4.79%, qualifying 6.79%, P and I $4,548.00. The fee is the coastal-strata analogue and the reason this salary does not scale linearly from the British Columbia house page. If the syndicate is underfunded, the real fee next year is not $450.00 and the cap you just computed is a souvenir. Quebec lenders will ask for the copropriété documents; budget time. Welcome Tax on $847,643 is payable even though it is not in this ratio. Do not finance it into the hypothec as an afterthought — that is a new loan amount and a different test. The income scenario remains the method; this page is the copropriété salary.

Plateau-Mont-Royal, Nuns’ Island, or a Quebec City mid-rise: a copropriété with a syndicate, a notary instead of an Ontario solicitor, and a hypothec that is still qualified at the prescribed rate. Half the condo fee enters GDS; the other half still leaves the bank account. Welcome Tax arrives as a municipal invoice, sometimes after possession. Chambre des notaires process and underfunded reserve funds are the local failure modes. Civil Code mechanics change the closer, not the ratio. Do not treat this as a detached Fraser Valley house cap or an Ontario GDS toy.

Sensitivity

Raising the condo fee is the local sensitivity the automatic table cannot fully show; the rate and amortization rows still matter. A point on the quote moves a large cap. The next salary on this hub is the Ontario two-hundred-sixty-thousand file, which starts to look at the insured-price ceiling as a real wall.

ChangeResultVersus this page
Contract rate 5.79%$795,564−$52,079 max price
Contract rate 3.79%$912,874+$65,231 max price
30-year amortization$892,626+$44,983 max price

Questions that only this band answers

Why does GDS only count half of the condo fees on this $200,000 Quebec file?▾
That is the Canadian underwriting convention this engine uses: fifty percent of $450.00 enters GDS. The other half is still real cash you pay the syndicate. Underfunded buildings make that convention look optimistic.
Is Quebec Welcome Tax deducted from this $200,000 salary’s maximum purchase?▾
No. $847,643 is a ratio cap. Welcome Tax is closing cash, sometimes billed after possession. Fund it outside $80,000 or the cap falls on the next run. Municipal Montreal brackets can be higher than the provincial table.
Does a Quebec hypothec change the qualifying rate on this $200,000 condo?▾
Not at a federally regulated lender. You still qualify at 6.79% on a 4.79% contract. Credit unions outside OSFI may use their own test. This page is the OSFI-shaped number: max purchase $847,643.

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Last verified: 2026-09-12