Worked example · Verified 2026-09-12

Weekly payments on a $1,600,000 uninsurable Quebec mortgage

Once the purchase price clears the insured cap, the Canadian file changes character. You cannot buy your way back into insurance with a smaller down payment; the cap is on price, not on loan size. Quebec adds a second change of character: the security is a hypothec, the closer is a notary, and the Welcome Tax can arrive after you have already moved in. Weekly payments show up in this band because some professional-payroll households prefer fifty-two small debits to one large one, and because a jumbo conventional payment is easier to digest in weekly slices even when the annual cost is the same. This is not a Montreal-bracket page; municipal Welcome Tax variations are a land-transfer-tax problem.

Jumbo conventional files still pin a 4.79% quote on this page. Uninsured jumbo pricing in the market may sit above that pin; the live calculator is the place to test a different quote. Live rates hub.

Open this example in the live calculator

Computed result

Purchase price$1,600,000
Down payment$320,000LTV 80.0%
Amount amortized$1,280,000uninsured
Weekly payment$1,680.28principal and interest
First payment — principal$514.57
First payment — interest$1,165.71
Interest over full amortization$904,362
Balance after five years$1,129,122
Pinned quoted rate4.79%does not follow the live sheet
ProvinceQuebec

Uninsurable principal, weekly servicing, Civil Code closing

Above the insured-price cap the five-percent recipe is gone. Twenty percent of the entire price is the legal minimum, and no default-insurance premium exists to capitalize. The engine therefore amortizes price minus down payment and nothing else. Weekly frequency re-prices the periodic rate with fifty-two periods rather than slicing a monthly annuity. Quebec closing is a notary file under the Civil Code, not an Ontario solicitor file, and the Welcome Tax is invoiced on its own timetable — sometimes weeks after possession. None of that levy is in this weekly debit. Treat this page as the servicing number on a jumbo conventional hypothec, not as a closing-cost estimate.

  1. 01 · Periodic rate

    i = (1 + r/2)^(2/n) − 1. At 4.79% monthly, i = 0.395241%.

  2. 02 · Amount amortized

    $1,600,000 − $320,000 = $1,280,000; insurance $0; total $1,280,000.

  3. 03 · Annuity

    $1,680.28 weekly over 25 years. First period: $1,165.71 interest, $514.57 principal. Year-five balance $1,129,122.

What this band means

Each weekly debit is $1,680.28 on $1,280,000 with zero insurance load. The first week is $1,165.71 interest and $514.57 principal. After five years $1,129,122 remains if you never prepay. That remaining balance is itself a jumbo conventional loan, which is the renewal problem this household will inherit. Uninsured pricing, jumbo overlays, and sometimes a second-level approval sit on top of the math the engine shows. The Welcome Tax and notary account are cash around possession day, not a component of $1,680.28. If you came here from the million-dollar first-time page, do not carry the thirty-year clock with you: that clock was an insured privilege and this purchase cannot be insured. Quebec Civil Code hypothecs also treat some default and discharge mechanics differently than common-law provinces; that is a legal distinction, not a payment-formula distinction. The formula here is the same semi-annual conversion used everywhere else in Canada.

A hypothec before a notary, not an Ontario charge on title. Weekly PAD is a professional-payroll habit in Montreal and Quebec City, not a trick to restore insurance that the price cap deleted. Welcome Tax may invoice after the keys. Discharge and a later switch need a new hypothec, which is slower than a common-law solicitor switch. Jumbo overlays and a second-level credit approval sit on top of this servicing number.

Sensitivity

A one-point rate change on this principal moves the weekly debit by a life-changing amount. Reverting to monthly would group the same annual cost into twelve hits; it would not restore insurance or a thirty-year clock. The next tax cliff in some provinces is a higher land-transfer bracket well above this price; in Quebec the Welcome Tax already has municipal overlays in Montreal that this servicing page does not attempt to price.

ChangeResultVersus this page
Quoted rate 5.79%$1,849.79+$169.51 per payment
Quoted rate 3.79%$1,518.51−$161.77 per payment
30-year amortization$1,537.26−$143.02 per payment

Questions that only this band answers

Why can’t this $1,600,000 Quebec purchase be insured?▾
Default insurance is capped at a purchase price of $1,500,000. This purchase is above that line, so twenty percent down ($320,000) is mandatory and no premium is available to capitalize. The amount amortized is $1,280,000, which equals price minus down payment.
Does paying weekly on this $1.6 million mortgage reduce total interest?▾
Slightly, because the periodic rate and the more frequent principal reduction trim a little interest versus twelve larger debits. It is not a substitute for a lump-sum prepayment. Each weekly debit is $1,680.28. Lifetime interest at the pinned quote is $904,362 if the rate never changes.
Is Quebec Welcome Tax part of this $1,600,000 weekly payment?▾
No. Droits de mutation are a closing tax, sometimes billed after possession. This page is the hypothec servicing number only. Use the land-transfer-tax examples for the provincial bracket walk at a specific price. Montreal’s higher municipal brackets are a city overlay on that tax, not on this weekly debit.

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Last verified: 2026-09-12