Financing

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Financing Options

With monthly payments as low as $750 to $800, you can become the owner of your own brand new Montreal condo. In addition, our down payments are minimal and designed for your benefit.

Canada Mortgage and Housing Corporation

Financing is easier than you think. Did you know that the Canada Mortgage and Housing Corporation (CMHC) offers mortgage loan insurance that can finance up to 95% of your condo’s purchase price? With the right conditions, you can finance your condo with a down payment of only 5% of the purchase price. It’s that easy! Visit the CMHC website here for more details. 

Amortization for up to 25 years

You can now amortize a mortgage loan for up to 25 years. This long-term option gives you the ability to budget your monthly payments in smaller amounts, which are often similar to the prices you would pay for a rental property.

Mondev Offers Reduced Interest Rate and Financing Options

Mondev always makes our clients’ needs a top priority. We have many excellent financial options and can offer home buyers reduced rates that are lower than the national rates by as much as 1%. With our financial partners, you can also get protection for your interest rate until your condo possession date (coverage can last up to 12 months or more). This protection ensures that if the rates increase, you will not be affected, but if the rates drop, you can still benefit from the reduction.

The Home Buyers’ Plan

The Canada Revenue Agency offers a Home Buyers’ Plan (HBP) which allows you to use some of your RRSP money to buy your new condo. You can withdraw up to $25,000 from your RRSP to purchase your condo (rates and conditions apply). To learn more, visit the Canada Revenue Agency here.