Would like to inform the buyers that the program of backing the purchase of an apartment is financed by la Société d’habitation du Québec and by the city of Montreal and is directed to assist in purchases of dwelling on the island. La Société canadienne d’hypothèques et de logement also helps low income families.

In order to be entitled to get a sum of $ 6500 the price of new house should not be higher than $180,000 (including the tax and additional services). Or $235,000, if at the moment of buying a house you have children under 18 years in the family. In this last case financial help of $10,000is going to be provided. Besides if the dwelling is certificated by the Novoclimat (l’Agence d’efficacité énergétique du Québec), the highest price of the apartment to be subsidized, will be increased by $2500. This financial help is extended as one transaction. The buyer has to provide all documents before the 31st of December 2009.

Keep in mind that financial help can be extended to a leaser, who wants to buy a rented dwelling. In this case the building has to be fully inhabited, and the price of the realty and the land should not exceed the following sum:
$ 296000 – duplex,
$ 346000 – triplex,
$ 398000 – quadruplet and so on
Nevertheless, for all these kinds of property, buyer has to prove, that he has not had real estate in Quebec during the last 5 years. For more detailed information check the site: habitermontreal.qc.ca.

Also you can find the e-form to register in this program.

Get 10% from mortgage!

There is another variant of financing, the innovation! It helps families, which want to buy a realty in Montreal. The program Acces Condos gives a chance to get a credit from $ 1000 (10% of dwelling cost) to the future owners of condominium projects, which were prepared by la Société d’habitation et de développement de Montréal (SHDM). Also, you can use this sum as the first payment – advance.

You can repay the sum of the credit at any moment, as long as you remain the owner of this realty.

If you sell or lease the accommodation, you have to repay the credit SHDM + 10% of benefit of selling.

For example, you bought a condo for $ 150,000. At the same time, you used a credit from SHDM 10%, like the first payment or $15 000. So, the price of your apartment is $ 135,000. Five years later, you decided to sell the condo for $ 190,000, benefit is $ 40,000 ($190000 – $150,000). In this situation, for repay the credit you have to return $ 15,000 plus 10% from benefit: $ 4000 = $ 19,000 in all.

Remember, that details can changed depending on your private affairs.

For more detailed information use the site: accescondos.org.