Multi-Residential Financing in Quebec City, QC

multi-residential financing in Quebec City prices off the Government of Canada 5-year benchmark bond yield plus a 160 bps multi-residential financing spread, landing at 4.75% indicative. Conventional apartment debt for owners outside insured programs. On the $3,400,000 average Quebec City transaction, a 75% advance is $2,550,000, carrying $159,624 of annual debt service on a 30-year amortization and a 5-year term.

Leverage binds before coverage here. The mid-band 6.0% cap rate produces roughly $204,000 of NOI, enough for $2,715,756 at a 1.20x floor — about $165,756 above what the 75% LTV cap will advance. The deal is sized by value, so the appraisal, not the rent roll, is the document to get right first.

Quebec City scores 100 on the Capitalor Lender Density Score — a deep market, with 36 tracked lenders and brokers against 13,900 commercial buildings. Expect competitive tension on well-covenanted paper: quote at least three lenders before accepting a spread.

Stress the file before a lender does. Holding the $2,550,000 loan constant, coverage falls to the 1.20x floor at roughly 5.30% — 0.55% of headroom above today's indicative rate. That headroom, not the headline rate, is what determines whether this Quebec City deal survives renewal.