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2525 blv Daniel-Johnson, Laval, QC, H7T 1S9
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Fax: 514-533-0143
First-time buyers of income property — Quebec
A duplex or a multiplex as your first property?
Buying a plex to live in one unit and rent the others changes the whole calculation: a different down payment, rental income feeding into your qualification, expenses to plan for. Better to know those numbers before the showings, not after a failed offer.
- A first property with one or more rented units
- Looking at a duplex, triplex or multiplex
- A down payment to structure
- Borrowing capacity to confirm before you shop
Nectarios Petropoulos, mortgage broker (licence 237338), Dominion Lending Centres National. Free, confidential review with no obligation.
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We will contact you shortly to discuss your situation. If your request is urgent, you can also reach us at 514-999-9946.
Who this is for
Do these questions sound familiar?
On a plex, the asking price says almost nothing about what you can actually buy. Four other variables decide that.
How much can I buy?
Your capacity comes from your income, your debts, the down payment and the share of the rents a lender will recognize.
What down payment is needed?
It varies with the number of units and with whether you will live in the building. It is the variable that shifts most between a duplex and a fourplex.
Do the rents really help?
Yes, but only partly, and the calculation differs by lender. Two lenders can produce two different budgets for the same building.
What am I forgetting?
Taxes, insurance, maintenance, vacancy, transfer duties, notary and inspection fees: the real budget is more than the mortgage payment.
The basics
How rental income feeds into your qualification
Lenders never count 100% of the rents. Some add a portion to your income, others subtract a share of the building's expenses before the calculation. The percentage used, the method and how the unit you occupy is treated all vary by lender, by unit count and by type of financing.
That is exactly why the same building can be financeable with one lender and out of reach with another. Here is what the review settles before you put in an offer.
What gets decided before the offer
The realistic purchase price
Not the theoretical maximum, but the number that still leaves a liveable budget once payments, taxes and upkeep are accounted for.
The structure of the down payment
Source of funds, HBP withdrawals, a gift from family, holding periods: each source has its own documentation rules and needs preparing in advance.
The unit count you are aiming at
Moving from two units to four, then to five and up, changes the required down payment, the criteria and sometimes the financing category.
The choice of lender
Depending on how each treats rental income, buying power can swing by tens of thousands of dollars on the same file.
Sometimes the review recommends waiting a few months: build the down payment, clear a debt, let an income history mature. Buying later on better terms usually beats buying now at the very edge.
The process
How the review works
A simple three-step process, at no cost and with no obligation.
Your real budget
Income, debts, credit and down payment: we set a realistic purchase capacity before rents enter the picture.
What the rents add
We assess how much rental income each lender recognizes and what that adds to your budget.
You shop with a number
You know the price to target, the down payment to plan for and the parameters to respect before making an offer.
Your team
Supported from the first question to the signature
When you need it, you can rely on a network of trusted professionals at every step of your purchase.
Real estate brokers
For the search, the showings and the negotiation on your first property.
Financial security advisors
To think through the protection that fits your new reality as an owner.
Notaries
To carry the transaction through to closing and signature.
What changes
What the preparation gives you
Every file is different and no outcome can be guaranteed in advance. Here is what the review usually gives you.
- A purchase budget with a number behind it, not an online estimate.
- The down payment required for the type of building you are targeting.
- A clear view of what the rents add — and what they do not — to your capacity.
- An offer submitted with the file already built rather than scrambled together.
Who you will be talking to
A mortgage broker from the very first question
Nectarios Petropoulos is a mortgage broker with Dominion Lending Centres National and has worked with Quebec buyers since 2016, including on income properties where qualifying takes more preparation.
A broker works with several lenders: banks, alternative lenders and private lenders. The job is to compare what exists for your situation and explain the consequences of each option, including when doing nothing is the better call.
- Broker
- Nectarios Petropoulos
- Licence number
- 237338
- Brokerage
- Dominion Lending Centres National
- Office
- 2525 Daniel-Johnson Blvd, Laval, Quebec H7T 1S9
- Phone
- 514-999-9946
Frequently asked questions
Your first plex: your questions
Can rental income help me qualify?
Yes, part of the rent is generally taken into account. The method and the percentage recognized vary by lender, by unit count and by whether you occupy a unit. It is one of the things to check before choosing where to apply.
What down payment is needed for a duplex or multiplex?
It depends on the number of units, whether you will live in the building, the purchase price and the rules applying to that type of financing. Requirements differ noticeably between an owner-occupied duplex and a fully rented fourplex. We confirm what applies to your project.
Do I need to have found the building first?
No, quite the opposite: preparing the financing before the showings tells you your budget, your down payment and the effect of the rents before you make an offer, rather than discovering it under pressure.
Can I use the Home Buyers' Plan for a plex?
The HBP can apply where you will occupy the building and you meet the program's conditions. Rules and limits change periodically, so we confirm what applies at the time of your purchase.
Is it harder than buying a house?
It is different rather than harder. There are more documents and more variables, but also income supporting the financing. Preparation matters more than on a single-family purchase.
Does a pre-qualification guarantee my financing?
No. An initial review is not a final approval. The lender will verify documents, credit, the chosen building, the leases and the conditions of the file before approving.
Your first income property starts with a plan
Let's prepare your budget, your down payment and your financing before you find the right building.
The information on this page is provided for general guidance only and is not an offer of credit or a guarantee of approval. The required down payment, the treatment of rental income, amounts and conditions vary with the lender, the type of building and the rules in force, and are subject to review.