already 30 years
SHDM description

home >

news >

Accès Condos, a valuable tool for Montrealers

February 14 2018

Accès Condos, a valuable tool for Montrealers

news images

The introduction of new mortgage qualification rules on January 1, 2018, raises many questions for aspiring homeowners who might fear having to curb their ambitions.

While the requirements are now more stringent to qualify for a mortgage with a lender, the Accès Condos financial tool represents an even more opportune lever for many Montrealers who want to buy a home and settle in Montréal.

Since the tightening of the rules to avoid over-indebtedness of households, all borrowers, whether they have a large or a small down payment, must now show that they have the capacity to repay their mortgage in the event of an increase of their interest rate. To do this, the bank will offer a current mortgage rate as part of the loan, but will qualify its client based on the Bank of Canada’s five-year benchmark rate.

The Accès Condos financial tool can therefore help you for several reasons:

  • Thanks to the sharing of risks between the developer and the SHDM which accredits the projects, the condos are offered at affordable prices without any compromise on the quality of the building. For example, the prices of the condos offered at Faubourg Contrecœur Phase 5 range from $169,900 (including taxes) for the 1 BDR units and $214,298 (including taxes) for the 2 BDR units.
  • A purchase credit of 10% of the condo price applicable to the down payment is offered to home buyers, which enables them to reduce their monthly mortgage payments and facilitate their mortgage approval.
  • The initial contribution from buyers is only $1,000, which gives them more flexibility to increase their down payment and reduce the amount of their mortgage.

All these advantages give additional leeway to buyers who have the desire and capability to acquire a condominium, by allowing them to reduce the amount for which they must now qualify.

Note that Accès Condos is a program that accredits affordable, high-quality residential projects and provides buyers with a 10% purchase credit on the condo’s purchase value, enabling them to buy with only a $1,000 deposit and at the same time reduce their monthly mortgage payments.

Since its creation in 2005, SHDM’s Accès Condos Program has enabled more than 3,600 households to acquire a quality property at very competitive prices while staying in Montréal. This program does even more. It contributes to the revitalization of neighbourhoods in a sustainable way, by the creation of dynamic living environments. For more information, visit accescondos.org

Articles en lien EN

August 28 2017

news images

August 28 2017

Accès Condos Accredited Project | Faubourg Contrecœur Phase 5 | Opening of the Sales Office on Saturday, September 16, 2017, at 10 am

More

October 17 2013

news images

October 17 2013

Accès Condos, an effective tool for acquiring a property in Montréal

More
X

The form has been sent!

The fields in red are required.

Looking for information on accreditation Accès Condos for residential projects? Would you like to be notified of the upcoming dates for submitting proposals for an Accès Condos accreditation? Join our mailing list and ask us your questions by filling this form.

Activities fields
How did you hear about the Condo Access Program ?
I WOULD LIKE TO REGISTER FOR THE SHDM MAILING LIST AND BE INFORMED OF THE UPCOMING DATES FOR SUBMITTING PROPOSALS FOR AN ACCÈS CONDOS ACCREDITATION.
I WISH TO MEET A SHDM REPRESENTATIVE TO OBTAIN INFORMATION ON THE ACCÈS CONDOS PROGRAM AND ITS ACCREDITATION PROCESS.
I WISH TO OBTAIN THE SPECIFICATIONS TO MEET FOR AN ACCÈS CONDOS PROGRAM ACCREDITATION IN ORDER TO SUBMIT A PROJECT.

Send

X

The fields in red are required.

Refinancing (Cession of rank)

Is there a change of financial institution?
If yes, please specify the name of your former financial institution.
Attachment to include (copy of the loan agreement and a copy of the mortgage deed)
Non-compulsory. Required if the application is approved.
Copy of the loan agreement
Copy of the mortage deed

You have another question or wish to include a comment? Please write it here :

Time for processing and approval:
Up to 30 days after receiving all requested documents and information.

The fields in red are required.

Send my request

X

The fields in red are required.

Request for statement of account

Reason for request

You have another question or wish to include a comment? Please write it here :

Pursuant to the Accès Condos Agreement, the SHDM may revise the reference price for the purpose of evaluating the part of the reimbursable increase in value if the sale price does not reflect the property’s market value.

Time for processing and approval:
Up to 30 days after receiving all requested documents and information.

The fields in red are required.

Send my request

X

The fields in red are required.

Approval of resale price

Does this transaction include a parking space?
Have you received the official purchase offer?
If yes, please attach a copy of the documents.
Attachment (if applicable to your situation, join the offer of purchase received)

You have another question or wish to include a comment? Please write it here :

Time for processing and approval:
Up to 30 days after receiving all requested documents and information.

The fields in red are required.

Send my request

X

The fields in red are required.

Transfer between joint purchasers or assignment of property

Please attach the documents required for the evaluation of the application.
Copy of the acceptance letter from the financial institution to transfer the mortgage to the assignee
Bank statement confirming current outstanding loan balance
Copy of the deed of assignment

You have another question or wish to include a comment? Please write it here :

Time for processing and approval:
Up to 21 days after receiving all requested documents and information.

The fields in red are required.

Send my request

X

Form for registering on the list of SHDM suppliers

In accordance with the Act respecting access to documents held by public bodies and the protection of personal information, to which the SHDM is subject as a public body, the supplier consents to the disclosure of his data entered in this registration form.

The SHDM appreciates your interest and thanks you for having filled out this form. By being on our list of suppliers, we will be able, if necessary, to invite you to send us a quotation (bid).
SHDM is under no obligation of any kind to suppliers who fill out the form.
Do you have any purchase-related questions? Email your questions directly to: approvisionnement@shdm.org

At any time, consult our call for tender notices on the SEAO site at www.seao.ca to check whether calls for tender in your area of activity have been posted by SHDM.

The fields in red are required.

If you consider it useful, you may add documents to complete your company's profile.

Enclose document 1
Enclose document 2
Enclose document 3

Send

X

Estimate the amount to be reimbursed to the SHDM

Breakdown of the value of your property i
To know the purchase price of your condo, refer to the notarized deed of sale of your co-ownership unit.X


10
  • 10%
  • 15%
  • 20%
10
  • 10%
  • 15%
  • 20%

In the event of disparity between the amounts produced with this calculator and those of the statement of account produced by the SHDM, the latter has priority.

X

Fields in red are required. Make sure they are filled correctly.

Request for service

To facilitate the process and to better serve you, you can make a request for service online by filling out this form. In addition to being a safe and reliable way to make your request, you will receive a confirmation by email with a tracking number.

If it is an urgent repair (Example: a non-functional toilet, a water leak, a heating break), call 514 380-SHDM (7436) immediately. 24/7 emergency service is available.

i
Please indicate the phone number that will allow the attendant to reach you to schedule an appointmentX
i
An email address is required to track your service requestX
Select the nature of the service requested according to the choices presented below
i
If you have multiple service requests, please submit one form per request.X




Briefly describe the nature of your request:
Attachment (if necessary): i
You can attach a file whose size does not exceed 20 MBX
In case of your absence, do you authorize the SHDM team to enter your home?

In all cases, a representative of the SHDM will contact you as soon as possible before going to your home.

Fields in red are required. Make sure they are filled correctly.

Send the request