Buying · Saguenay · mortgage 2026
What a 30-year rather than 25-year amortization changes in Saguenay in 2026: the payment, the required income, the CMHC premium, the interest and the balance after 5 years, for the median house and condo.
For the median house in Saguenay ($366,000, minimum down payment of $18,300), a 30-year amortization lowers the payment from $1,920 to $1,741 a month, or $179 less, and brings the required income down from $84,245 to $79,400. For the median condo ($287,000), it is $140 less a month ($1,505 versus $1,365) and a required income of $62,926 instead of $66,725. The price: about $50,236 more interest over the life of the house loan if the rate stayed at 4.09% and you never paid it down faster. Assumptions: Centris median price (January to September 2026) of single-family houses and condos; minimum down payment (5% up to $500,000, 10% on the portion above, 20% above $1.5M); CMHC premium added to the loan (2026 schedule, + 0.20 point over 30 years); insured 5-year fixed rate of 4.09% kept for the whole term (a scenario, not a forecast), compounded semi-annually; minimum income at the stress test rate (6.09%) with property taxes at 1% of the price and $1,200 a year of heating, 39% debt ratio. Source: Centris (Matrix) for prices, compiled October 31, 2026.
The short answer
For the median house in Saguenay ($366,000, minimum down payment of $18,300), a 30-year amortization lowers the payment from $1,920 to $1,741 a month, or $179 less, and brings the required income down from $84,245 to $79,400. For the median condo ($287,000), it is $140 less a month ($1,505 versus $1,365) and a required income of $62,926 instead of $66,725. The price: about $50,236 more interest over the life of the house loan if the rate stayed at 4.09% and you never paid it down faster.
Payment and required income in Saguenay, 25 or 30 years
| 2026 in Saguenay | Median price | Minimum down payment | Payment over 25 years | Payment over 30 years | Savings per month | Required income, 25 years | Required income, 30 years |
|---|---|---|---|---|---|---|---|
| Median house | $366,000 | $18,300 | $1,920 | $1,741 | $179 | $84,245 | $79,400 |
| Median condo | $287,000 | $14,350 | $1,505 | $1,365 | $140 | $66,725 | $62,926 |
Centris (Matrix) median prices, January to September 2026; insured 5-year fixed rate of 4.09%.
What 30 years costs in Saguenay
| In Saguenay | CMHC premium, 25 years | CMHC premium, 30 years | Interest over 25 years | Interest over 30 years | Balance owed after 5 years, 25 years | Balance owed after 5 years, 30 years |
|---|---|---|---|---|---|---|
| Median house | $13,908 | $14,603 | $214,336 | $264,572 | $315,286 | $327,987 |
| Median condo | $10,906 | $11,451 | $168,073 | $207,465 | $247,232 | $257,192 |
What these numbers say in Saguenay
- Over 30 years, the median house in Saguenay costs $2,148 less a year in payments, and the required income drops by $4,845 (5.8%): that is often what gets a first-time buyer's file approved.
- The 0.20-point surcharge costs $695 on the median house, added to the loan, plus $63 of Québec sales tax paid in cash at the notary.
- After 5 years (a first term), you owe $12,701 more with 30 years. At renewal, nothing stops you from going back to a shorter amortization if the budget allows.
- For the median condo in Saguenay, 30 years frees up $140 a month and costs about $39,392 more interest over the life of the loan, at the same rate.
- Across the 50 cities tracked, 30 years lowers the median house payment by a median $294 a month and the median condo payment by $194 a month; the required income drops by about 5.8%.
Who qualifies for 30 years?
Since December 15, 2024, an insured mortgage (down payment under 20%) can be amortized over 30 years for all first-time buyers, whatever the property, and for any purchase of a newly built home. CMHC then adds 0.20 percentage point to the insurance premium (for example, 4.00% becomes 4.20%). With 20% down or more, the loan is not insured and a 30-year amortization depends on the lender.
What it changes for buying in Saguenay
In Saguenay, payments are already among the lowest of the 50 cities tracked; 30 years adds a margin of $179 a month on the house. Many buyers take 25 years to pay less interest; others take 30 to keep a cushion. Now is the time to buy: get pre-approved on both scenarios. For the cash to plan for: the cash for a house in Saguenay, the cash for a condo in Saguenay.
How to read these numbers
Assumptions: Centris median price (January to September 2026) of single-family houses and condos; minimum down payment (5% up to $500,000, 10% on the portion above, 20% above $1.5M); CMHC premium added to the loan (2026 schedule, + 0.20 point over 30 years); insured 5-year fixed rate of 4.09% kept for the whole term (a scenario, not a forecast), compounded semi-annually; minimum income at the stress test rate (6.09%) with property taxes at 1% of the price and $1,200 a year of heating, 39% debt ratio. Total interest assumes the same rate over 25 or 30 years and no prepayment: it is the maximum cost of 30 years, not a forecast. The welcome tax, notary and other cash costs are the same in both cases.
Frequently asked questions
Who can take a 30-year amortization in Saguenay?
Since December 15, 2024, an insured mortgage (down payment under 20%) can be amortized over 30 years for all first-time buyers, whatever the property, and for any purchase of a newly built home. CMHC then adds 0.20 percentage point to the insurance premium (for example, 4.00% becomes 4.20%). With 20% down or more, the loan is not insured and a 30-year amortization depends on the lender.
How much more does 30 years cost?
For the median house in Saguenay, about $50,236 more interest over the life of the loan and a $695 surcharge, at a constant 4.09% rate with no prepayment; for the median condo, about $39,392.
Can you shorten the amortization later?
Yes. Most mortgages allow prepayments every year, and renewal (often after 5 years) lets you pick a shorter amortization. Thirty years gives room at the start; nothing forces you to keep it to the end. See also mortgage renewal in 2026-2027 and CMHC mortgage insurance in 2026.
Sources: Centris (Matrix), Statistics module, median sale price of single-family houses and condos for the municipality of Saguenay (query of September 16, 2026); Department of Finance Canada (30-year amortization for first-time buyers and new builds, in force December 15, 2024); CMHC premium schedule; compiled by the Loaa & Manseur team, aggregates only. The hub 25 or 30-year amortization in 50 cities compares the 50 cities.
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Also available in French: version française de ce guide.
Published September 7, 2026 by the Loaa & Manseur team, the number 1 team at RE/MAX Platine in 2024 and 2025, 6th RE/MAX team in Quebec, 15th in Canada and in the global top 50 according to the official RE/MAX ranking. Tell us about your project.