The purchase of a property comes with a lot of questioning and it is necessary to respond well.
Before submitting a purchase offer, planning a first meeting with us is a good thing to do. You may be surprised by the multitude of purchase options that we will offer, at no cost, all included in our service offer.
This meeting will allow us among other things to establish a scenario of purchase according to your budget and your down payment, to guarantee you a rate of interest which can go up to 120 days and it will be our pleasure to answer all your questions.
Do not hesitate and come and talk about your projects.
Purchase main home – 1 to 4 owner-occupied dwellings
Our role is to accompany you through every step of the process of buying your property and crossing the finish line with you, having obtained the best mortgage product to meet your needs.
Are you ready to become an owner? We will evaluate your current financial situation, list all the expenses related to the purchase of a house and we will put you in contact with the professionals you will meet throughout the purchase process.
You will be surprised how many people can be involved in your buying process:
- Your mortgage broker
- The real estate broker
- The lender
- The building inspector
- The assessor
- Financial Security Advisor (Life and Disability/RRSP Loan)
- The home insurance company
- The notary
Since the economic crisis that hit the United States in 2012, the Government of Canada has tightened standards for homeownership in Canada. Several changes will affect the process of obtaining funding, here are some examples:
- Withdrawal of the purchase without a down payment (the minimum now required is 5%).
- On July 28, 2014, for insured loans, the maximum amortization period increased from 30 years to 25 years.
- The increase in May 2014 mortgage loan insurance premiums.
- On October 17, 2016, tightening of the qualification rules by the government.
Our duty is to inform you of all these changes and to advise you so that the purchase process is simplified.
You buy your first property, but where do you start?
No doubt, by a pre-approval mortgage that you can perform with the help of a member of our team of experts.
We will become partners for this great adventure and we will take the time to advise you on:
- The down payment to consider for the purchase
- Your maximum borrowing capacity
- Product choice and mortgage interest rate
- The advantages of doing business with a real estate broker.
- Start-up costs related to the purchase
- Inspection of the property
- Government programs and ongoing grants, such as the Home Buyers’ Plan (HBP) program.
- The planning and procedure for withdrawing your existing RRSPs.
- How the RRSP loan works
- The choice of the notary and how to prepare the meeting
- Home insurance is mandatory
- An insurance broker of all types (life, disability and salary insurance) is essential.
The advantage of starting your mortgage pre-approval process is that we can guarantee you an interest rate for a period ranging from 90 to 120 days and we will follow you for the lower mortgage rates, and this all for free.
This year, it’s decided we’re taking the leap!
We buy our cottage instead of renting, as we have done every summer for almost 10 years, we will capitalize well and we will enjoy the cottage all year.
It is possible to acquire a second home with only 5% down payment. Whether it is a 3 or 4 season cottage, a pied-à-terre in the city center or the purchase of a condo for our son who enters university, a multitude of choices are offered to you and always at very competitive rates.
Did you know that you can refinance your principal residence so that you can find equity that can be used as a down payment for the purchase of your cottage. It would be possible to make the purchase with an amount of 20% down payment and avoid paying the insurance premium (CMHC-Genworth-Canada Guaranty).
Ask a member of our team, we will be pleased to inform you.
You have found the house of your dreams, but she would need a little love. Have you thought about buying renovation. This product is offered at the same interest rate as the purchase without renovation. It allows you to add the amount of work to the purchase price of the property. Why wait and risk paying interest at high rates ranging from 18% to 20% by financing renovations from a credit card or personal loan (8%). It makes much more sense to plan the necessary renovations now.
Small rental building (5 units and less)
Today, with the help of mortgage insurers such as CMHC, Genworth and Canada Guaranty, it is possible to buy a residential building, owner-occupant, with only 5% down payment in the case of a homeowner. duplex and 10% down payment when it comes to triplex and quadruplex. For those who would like to buy a 5 to 8 unit building, contact us so that we can direct you to our specialist mortgage consultant with 5 units or more.