Accès Condos, an effective tool for acquiring a property in Montreal

The Accès Condos program, launched in 2005, has already enabled more than 3,600 households to acquire an affordable, quality home in Montréal. Of these, 90% were new homeowners, and 34% were families.

A relevant program for those wanting to buy in Montréal and build equity

Accès Condos is a financial tool for buyers which offers them a 10% purchase credit. This allows them to reduce their down payment to $1,000, as well as lowering their mortgage loan at their financial institution. It specifically aims at affordable quality homes in Montréal accredited by the SHDM.

The program is structured to answer the needs of those wishing to acquire a home within their means in Montréal, and benefit from its exceptional quality of life, advantages, and amenities.

With parametersthat reduce risks, the program is available to all, so long as the buyers live in the unit they purchase –which limits speculation. The program also limits the debt risks of households, since it doesn’t allow buyers to have a debt that exceeds the purchase price of their unit. Nor can they refinance their loan in the event of an increase in the market value of their condominium. The SHDM does not guarantee mortgage loans; buyers of an SHDM accredited unit must meet the insured mortgage loan requirements of the CMHC or Genworth.

Quality projects that contribute to neighborhood revitalization and to Montreal’s growth

Providing accreditation to targeted projects in areas with unexploited potential, Accès Condos contributes to revitalize Montréal’s neighborhoods by creating dynamic living environments and ensuring a balanced social mix that is stimulating and beneficial for the entire community.

By offering affordable alternatives to people wanting to live closer to their workplace or to an efficient public transportation system, Accès Condos helps limit the exodus of families to the suburbs.

This program is financed by the SHDM, a non-profit, financially autonomous organization. Although SHDM receives no financial contributions from the Ville de Montréal, it remains a valuable partner for responsible real estate entrepreneurs seeking to contribute to Montréal’s social and economic development.