Mortgage · Simulation · September 15, 2026
Three real rates read this week, three amounts, the payment, the stress test and the down payment: the full simulation, with no account to open and no email to leave.
A mortgage simulation in September 2026 runs on three rates read this week: 4.09%, the best insured 5-year fixed on the market (Ratehub, 11 September), 4.29%, Multi-Prêts' 5-year (14 September), and 4.69%, Desjardins' 5-year promotional offer (13 September). On $450,000 amortized over 25 years, the payment runs from $2,389 to $2,538 a month. The lender qualifies you at the higher of 5.25% or your rate plus 2 points, so between 6.09% and 6.69%: it is the tested payment that must fit in your ratios (39% of gross income for housing, 44% with other debts). The minimum down payment is 5% up to $500,000 and 10% on the portion above, up to $1.5 million; under 20%, the insurance premium is added to the loan. The team's calculator runs the full simulation with the premium, the test and the welcome tax.
| Scenario | Rate | Source and date |
|---|---|---|
| Best rate on the market | 4.09% | insured 5-year fixed, Ratehub survey of 11 September 2026 |
| Broker lender | 4.29% | Multi-Prêts, 5-year, read on 14 September 2026 |
| Large institution | 4.69% | Desjardins, 5-year fixed promotional, read on 13 September 2026 |
Benchmarks of the same moment: Bank of Canada policy rate at 2.25% (decision of 2 September, next on 28 October), posted 5-year conventional at 6.09%. Our current mortgage rates page follows these figures at every decision.
| Mortgage | at 4.09% | at 4.29% | at 4.69% | Gap 4.09 vs 4.69 |
|---|---|---|---|---|
| $300,000 | $1,593 | $1,626 | $1,692 | $100 / month |
| $450,000 | $2,389 | $2,438 | $2,538 | $149 / month |
| $600,000 | $3,185 | $3,251 | $3,385 | $199 / month |
These payments exclude the insurance premium, added to the loan under a 20% down payment, and the municipal and school taxes, which the lender adds to your obligations in the test. On $450,000, the gap between the best rate and a large institution's offer is $149 a month, $8,957 over five years: that is what a comparison through a mortgage broker is worth.
The lender does not qualify you at the simulation rate but at the higher of 5.25% or your rate plus 2 points: 6.09% on the 4.09% scenario, 6.29% at 4.29%, 6.69% at 4.69%. On $450,000, the tested payment runs from $2,903 to $3,066 a month, and that is what must fit in 39% of your gross monthly income with taxes and heating (44% with other debts). Our page what salary you need to buy a house turns each scenario into required income, and our borrowing capacity calculation goes the other way, from salary to price.
| Price | Minimum down payment | Rule |
|---|---|---|
| $300,000 | $15,000 | 5% of the price |
| $450,000 | $22,500 | 5% of the price |
| $600,000 | $35,000 | 5% of the first $500,000 ($25,000) and 10% of the portion above ($10,000) |
Under a 20% down payment the mortgage is insured and the premium is added to the amount borrowed, hence to the payment; above $1.5 million the mortgage is no longer insurable and 20% is required. Premium details are on our CMHC mortgage insurance page, and our mortgage calculator runs the full simulation, premium and test included. For the down payment itself, the FHSA and the HBP combine up to $100,000 per person: see HBP or FHSA.
Between $2,389 and $2,538 a month over 25 years at the rates read this week (4.09% to 4.69%), without the insurance premium or taxes. The lender, however, qualifies you on a payment calculated at 6.09% to 6.69%, that is $2,903 to $3,066.
Two: the rate you expect to get (4.09% to 4.69% this week depending on the lender and the file) for the real payment, and that rate plus 2 points (at least 5.25%) for the stress test, which decides the amount the lender accepts.
$35,000 at minimum: 5% of the first $500,000 and 10% of the next $100,000. Under 20% ($120,000), the insurance premium is added to the loan.
Sources: Ratehub survey of 11 September 2026, multi-prets.com read on 14 September 2026, desjardins.com read on 13 September 2026, Bank of Canada (2 September 2026). Payments calculated over 25 years, semi-annual compounding, without insurance premium. Federal down payment rules in force (insured mortgage cap of $1.5 million since 15 December 2024).
The Loaa & Manseur team, led by Lotfi Manseur and Loaa Al Daow, is 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 of large residential teams according to the official RE/MAX ranking, computed on actual transactions. Its Google profile counts more than 220 reviews with a 4.9 rating. Its offices are at 55 avenue de l'Équinoxe in Brossard, one bridge from the island, and every broker's licence can be checked in the OACIQ public register. Three things to verify yourself before calling us, and to demand of any other broker.
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.
Équipe no 1 de RE/MAX Platine en 2024 et en 2025, 6e au Québec, 15e au Canada et dans le top 50 mondial au classement officiel RE/MAX. Réponse en moins de 24 heures, sept jours sur sept.