Down payment · Westmount · 2026
How much you need set aside to buy the median house in Westmount in 2026: the legal minimum, the 20% that avoids the CMHC premium, the premium at the minimum, the share a FHSA and an HBP cover, and the same for a condo and for 2016. Centris figures and federal rules.
In Westmount, the median house costs $2,272,500 in 2026 (Jan. to Sep.): the minimum down payment is $454,500 (20%), or 20.0% of the price, one of the highest among the 50 cities tracked (median $36,000). Above 1.5 million, the loan cannot be insured: 20% down is mandatory, with no CMHC premium. In 2016 the minimum was $275,000: +65% in ten years. Source: Centris (Matrix) and federal rules, compiled October 7, 2026.
The short answer
In Westmount, the median house costs $2,272,500 in 2026 (Jan. to Sep.): the minimum down payment is $454,500 (20%), or 20.0% of the price, one of the highest among the 50 cities tracked (median $36,000). Above 1.5 million, the loan cannot be insured: 20% down is mandatory, with no CMHC premium. In 2016 the minimum was $275,000: +65% in ten years.
The minimum down payment in Westmount, year by year
| Year | Median price (house) | Minimum down payment | Rule | CMHC premium at minimum | 20% (no premium) |
|---|---|---|---|---|---|
| 2016 | $1,375,000 | $275,000 | 20% | none | $275,000 |
| 2017 | $1,550,000 | $310,000 | 20% | none | $310,000 |
| 2018 | $1,700,000 | $340,000 | 20% | none | $340,000 |
| 2019 | $1,795,000 | $359,000 | 20% | none | $359,000 |
| 2020 | $2,020,500 | $404,100 | 20% | none | $404,100 |
| 2021 | $1,992,500 | $398,500 | 20% | none | $398,500 |
| 2022 | $2,385,000 | $477,000 | 20% | none | $477,000 |
| 2023 | $2,040,000 | $408,000 | 20% | none | $408,000 |
| 2024 | $2,175,000 | $435,000 | 20% | none | $435,000 |
| 2025 | $2,230,000 | $446,000 | 20% | none | $446,000 |
| 2026 (Jan. to Sep.) | $2,272,500 | $454,500 | 20% | none | $454,500 |
Median sale price of single-family houses, whole municipality of Westmount, Centris (Matrix). Minimum: 5% up to $500,000, 10% above, 20% above the insurable cap ($1M until 2024, $1.5M since). Premium: CMHC schedule by loan-to-value ratio.
Minimum, 10%, 15% or 20%: the scenarios on the 2026 median house
| Down payment | Amount | CMHC premium | Premium rate | Mortgage (price − down + premium) |
|---|---|---|---|---|
| 20% | $454,500 | none | none | $1,818,000 |
What it means with the FHSA and the HBP in Westmount
- FHSA: a full account, $40,000 ($8,000 a year for five years), covers 9% of the minimum down payment in Westmount; $414,500 is missing. In 33 of 50 cities, $40,000 is enough for the minimum.
- FHSA + HBP: alone, $100,000 of tax-sheltered savings (FHSA $40,000 + HBP $60,000) covers 22% of the minimum; as a couple, $200,000 covers 44%.
- Ten years: the minimum down payment went from $275,000 to $454,500 (+65%), the price +65%. Median of the 50 cities: +167%.
- CMHC premium at the minimum: $0 in 2016, $0 in 2026 (none: the loan is not insurable).
- The gap between the minimum and 20% in Westmount is $0: what you need to save on top to avoid the premium, or what a family gift or an inheritance changes in the file.
- Condo: $835,000 at the median in Westmount, minimum down payment $58,500 (5% + 10%), 20% = $167,000, premium at the minimum $31,060. In 2016 the condo minimum was $37,350. A full FHSA covers 68% of the condo minimum.
What it changes when buying in Westmount
In Westmount, the minimum is not the question: above 1.5 million, lenders require 20% ($454,500) and the loan is uninsured. The issue lies elsewhere: qualifying at the benchmark rate on a $1,818,000 mortgage, and the source of the down payment, which the lender verifies over 90 days. The FHSA and HBP count, but they only cover 44% as a couple. The full rules, and the calculation on any price, are in minimum down payment 2026 in Quebec; the welcome tax to budget on top, in welcome tax in Westmount.
How to read these figures
The minimum down payment is a federal rule: 5% of the first $500,000 and 10% of the remainder, as long as the price stays under the insurable cap, $1,500,000 since December 15, 2024 ($1,000,000 before); above it, 20% with no insurance. The CMHC premium follows the loan-to-value ratio: 4.00% of the loan above 90%, 3.10% between 85 and 90%, 2.80% between 80 and 85%, nothing at 80% and below (schedule in force since March 17, 2017, identical at Sagen and Canada Guaranty). All amounts are computed on the median price of Centris sales in Westmount, not on a specific house. Welcome tax, notary and inspection come on top, in cash.
Frequently asked questions
What is the minimum down payment for a house in Westmount?
$454,500 for the median house ($2,272,500): 20% (above the insurable cap). With that down payment, the CMHC premium is $0. For a house at another price, the rule is 5% up to $500,000 and 10% above, up to 1.5 million.
How much is a 20% down payment in Westmount?
$454,500, or 20% of $2,272,500. That is $0 more than the minimum, in exchange for $0 of premium avoided.
Are the FHSA and HBP enough to buy in Westmount?
Yes, in 49 of 50 cities for a single buyer (FHSA $40,000 + HBP $60,000 = $100,000). In Westmount, that $100,000 covers 22% of the minimum: the rest has to come from savings or a gift.
Source: Centris (Matrix), Statistics module, queries of September 16, 2026 for the municipality of Westmount: median sale price of single-family houses and condominiums by year over ten years; federal minimum down payment rules (Department of Finance Canada) and CMHC premium schedule; FHSA and HBP ceilings (Canada Revenue Agency); compiled by the Loaa & Manseur team, aggregates only. The down payment in 50 cities hub compares the 50 cities.
Our other data series in Westmount, from the same Centris listings:
- Buyer's or seller's market in Westmount
- How much buyers negotiate in Westmount
- Houses that do not sell in Westmount
- Home prices in Westmount, ten years
Each series is recalculated from actual sales, aggregates only.
Our proof, not our promises
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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.