The Ville de Montréal’s new program to support the purchase of a residential property and Accès Condos are complementary

The Ville de Montréal has just announced the enhancement of its program to support the acquisition of a residential property, a fund that offers financial assistance to buyers, under certain conditions.

For buyers of Accès Condos accredited units, this is great news! Indeed, this means that buyers who use the Accès Condos financial tool, a tool managed by the Société d’habitation et de développement de Montréal (SHDM), can ALSO, under the municipal program, have access to a subsidy from the Ville de Montréal for their purchase, according to the same criteria applied to any other buyer.

Indeed, the SHDM has designed the Accès Condos program to be complementary to other municipal initiatives aimed at enabling more households to buy a property and live in Montréal.

While the Ville de Montréal’s financial assistance program for the purchase of a residential property is accessible according to certain eligibility criteria, the only criterion of the Accès Condos financial tool is that of being eligible for a mortgage loan. Thus, in addition to the 10% purchase credit that reduces the down payment to only $1,000 for the purchase of an accredited Accès Condos unit, you may also be eligible for financial assistance from the Ville de Montréal ranging from $5,000 to $15,000, for a purchase made on or after May 1, 2018.

Have you already reserved your unit at Faubourg Contrecœur phase 5? You should immediately look into this new program because your deed of sale will only be notarized when you take possession of your unit, i.e. after the date of entry into force of the new program!

For more information on the Ville de Montréal financial assistance program for the acquisition of a residential property and the eligibility criteria, click HERE.

To visualize the Accès Condos accredited projects, click HERE.