Thinking of buying on the North Shore or in Laval?
Think Xperto.
Thinking of buying on the North Shore or in Laval? Think Xperto.
Are you ready to buy a new house, a plex, condo or cottage? Comparing financing offers so you can find a mortgage solution that is best for you?
Our Laval and North Shore-based brokers will not only offer you the best market interest rates. They will be directly involved and guide you through all the key steps of the process so that you can obtain the best possible mortgage.
- Do you prefer an open or closed term? A variable or fixed rate?
- What are your options for down payment?
- Do you have credit difficulties?
- Mortgage prequalification have you thought about it?
Rest assured. Together, we will thoroughly analyze your file, answer all of your questions and address your largest concerns. After all, we know that you are about to make one of the biggest investment’s of your life.
Every situation requires a tailored solution. Property ownership is within your reach whether:
- You are buying your very first home or condo.
- You are an immigrant and have recently arrived to Québec.
- You have credit problems.
- You are self-employed.
Mortgage prequalification : what does it tell you?
To speed up your mortgage approval when you are about to buy, do not forget to proceed with your mortgage prequalification. Learn more here.
5 things that affect your mortgage
- Your credit rating
- Your personal and household income
- Your employment situation (stability is important)
- Your emergency funds
- Your down payment
What you need to know about the down payment when purchasing a first-time home or condo
As a general rule, you will be required to make:
- A 5% down payment on a property with a purchase price of $500,000 or less;
- A10% down payment (in addition to the above 5%) on the surplus of $500,000 up to $999,999 (for example, for a $600,000 property, $25,000 (5%) will be required for the first $500,000 and $10,000 (10%) for the $100,000 surplus).
- A 20% down payment for a property with a purchase price of $ 1 million or more.
You will need to demonstrate your ability to pay this amount. However, don’t be discouraged if you are having trouble. Call us today and we will help you find a solution that fits your lifestyle and financial goals.