Everyone is eligible for the standard option. Whether you are a first-time buyer or already an owner, you need to pay a deposit of only $1,000 and the SHDM will advance you the 10% down payment required to purchase an accredited Accès Condos, standard option unit.

Monthly payment calculator
Condo price
10% purchase credit (down payment advanced by the SHDM)
Your minimum down payment
Will you be making an additional down payment? (optional)
Amount of your mortgage
Monthly mortgage payment

Please note that the CMHC Mortgage Loan Insurance premium (if applicable) is not included in this calculation.

Interest rate
3%
  • 2%
  • 3%
  • 4%
  • 5%
Amortization period
25 years
  • 15 years
  • 20 years
  • 25 years

Per month

Calculate owner's equity at time of re-sale (net value of property, minus mortgage)
Profit per year
3%
  • 2%
  • 3%
  • 4%
  • 5%
Re-sale in (year)
5 years
  • 1 year
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 6 years
  • 7 years
  • 8 years
  • 9 years
  • 10 years
  • 15 years
Value of your property
Your mortgage balance
Initial purchase credit
Amount of increased value to repay
Total Accès Condos repayment
Owner’s equity at time of re-sale (net value of property, minus mortgage)
Do your calculations
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STANDARD OPTION

STANDARD OPTION

Everyone is eligible, whether a first-time buyer or already an owner. You have to pay a deposit of only $1,000 and the SHDM will advance you 10% of the down payment required to purchase an Accès Condos accredited unit.

 

IN BRIEF: Standard option = Everyone eligible + 10% purchase credit

The purchase credit helps you buy your condo in Montréal. How does it work?

The purchase credit helps you buy your condo in Montréal. How does it work?

The SHDM, which manages the Accès Condos program, selects condo projects in Montréal that it accredits based on various criteria, including their affordability. You therefore buy your condo from the developer, while benefiting from the Accès Condos financial tool offered by the SHDM.

In addition, Accès Condos offers you a purchase credit of 10% of the accredited condo price and that percentage amount may be applied to your down payment, with a minimum deposit of $1,000 as your only immediate financial contribution. A great opportunity to reduce your mortgage loan!

When you resell your condo, after having repaid the SHDM the purchase credit as well as 10% of the increased value of your property, you will pocket the portion of the principal repaid as part of your mortgage loan and 90% of the increased value. A great investment!

Ready to take action with the standard option?

Ready to take action with the standard option?

The standard option of the Accès Condos program has attracted your interest. But where do you start?

  1. Take a look at the projects under way where this option applies.
  2. Visit the sales office of the project you are interested in.
  3. Reserve the unit of your choice by giving the sales team a $1,000 cheque as a deposit.
  4. Get an approval for your mortgage loan.
  5. Sign your preliminary contract with the developer and your Accès Condos agreement to confirm your 10% purchase credit.
  6. Go to the notary to put the purchase of your property into effect!

How does it work? Here is an example.

You buy an accredited Accès Condos unit valued at $200,000
  • Purchase price:
    $200,000
  • Accès Condos purchase credit (10%):
    - $20,000
  • Minimum contribution from the buyer:
    - $1,000
  • Amount of your mortgage:
    = $179,000
5 years later, you resell your condo at a price of $230,000
  • Increased value of your unit (Sales price minus purchase price):
    $30,000
  • 10% of the increased value to reimburse:
    $3,000
  • Accès Condos purchase credit to reimburse:
    + $20,000
  • Total reimbursement to the SHDM:
    = $23,000
Remaining equity after resale 5 years later
  • Sale price:
    $230,000
  • Total reimbursement to the SHDM:
    - $23,000
  • Mortgage balance at time of resale*:
    - $153,000
  • Remaining equity after resale:
    = $54,000
* Mortgage balance based on a mortgage with a 3% interest rate and a 25 years amortization period.
For a personalized example, try the calculator: Do your calculations

The condo project where this option applies now…

faubourg-contrecoeur-6

FAUBOURG CONTRECOEUR PHASE 6

The project, delivered in 2019 autumn, offers 70 affordable condo units.

Rue de Contrecoeur (south of rue Myra-Cree), Montréal
See more
faubourg-contrecoeur-5

Faubourg Contrecoeur Phase 5

The Faubourg Contrecœur Phase 5, whose construction was completed in 2018, numbers 95 units across from Carlos-D’Alcantara Park.

5200, rue de Contrecoeur, Montréal
See more

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