The Journal de Montréal discusses financial tools to facilitate the acquisition of a property
The Journal de Montréal newspaper recently published a dossier signed by Christian Lavigne for first-time buyers or anyone interested in buying affordable property. What is his perspective? Beyond the plethora of real estate products targeting those with more means, what are the options for the middle class who wants to buy in Montréal and live there comfortably?
The Accès Condos Program is in the spotlight. Indeed, the accreditation of projects in the Accès Condos program enables buyers to reduce their down payment to only $1,000 and lower their monthly mortgage payments thanks to a purchase credit of 10% (applicable to the down payment) offered by the Société d’habitation et de développement de Montréal (SHDM).
The Ville de Montréal Home Ownership Program is also covered as it offers the reimbursement of the property transfer tax and, in some cases, a lump sum financial assistance.
Did you know that the Accès Condos program is compatible with this Ville de Montréal program?
The article finally explains the tools that are the Home Buyers’ Plan (HBP) created by the Canada Revenue Agency that allows you to withdraw up to $25,000 from your Registered Retirement Savings Plans (RRSPs), and the Mortgage Loan Insurance administered by the Canada Mortgage and Housing Corporation (CMHC) which makes it possible to buy “with a minimum down payment of 5% with interest rates comparable to those granted to borrowers making a down payment of 20%.”
Go and meet with the sales teams of current Accès Condos accredited projects and you can also take advantage of these tools!
Accès Condos accredited projects underway:
To download the article, click here.