Do you want to become a homeowner faster? To be able to take out a mortgage loan to buy a property in Quebec, you must have a down payment of at least 20%. But what if you don’t have this amount? Can you still buy a home? While many are fortunate to have saved up at…
Are you planning to invest in an income property in Quebec but don’t know the financing options for this type of property? Here is a brief overview of mortgage financing for multi-unit buildings for your reference. What is a multi-unit rental building? A “multiplex” or “multi-unit” is a property with at least 1 residential unit….
When the time comes to choose a mortgage for the purchase or refinancing of a property, several choices of lenders are available to us. In Quebec, the most popular lender is Desjardins. When you look across the country, Royal Bank takes position as Canada’s biggest lender. Which bank should you choose when it comes time to…
Mortgage rates are a key concern in Quebec and the rest of Canada because most Canadians are homeowners. In January, the key rate is at 3.25%. A year ago, it was 5%. Will the Bank of Canada lower its rate again? Nothing is certain, and no one knows exactly what will happen. Why is it…
2020 was certainly not a great year in terms of economic conditions. While economists and pundits expected rates to increase, the COVID-19 pandemic has certainly upended the Bank of Canada’s plans. In March 2020, the government announced health measures to contain the spread of the COVID-19 virus, leaving hundreds of thousands of Quebecers unemployed. Banks…