31 Jul 2018

You would like to invest in a housing building and generate interesting earnings ? Watch this 2 minutes video and contact us to benefit from the program SCHL/ Desjardins.

Good day, today, I present you the details of a program offered by SCHL regarding the income housing of 5 to 8 dwellings. To give us the details of this program, I am accompanied by Danielle Pothier mortgage representative in Desjardins. Good day Danielle Good day Steve I would like you to give us a little bit more details of this program. Being an approved lender with SCHL, Desjardins helps the real estate investors by offering, the possibility to amortize the mortgage of a rental building to a period of 30-35 and even 40 years. What are the advantages of this program? There are multiple advantages; the minimal down payment is 15% the interest rate are competitives for the entire duration of the loan. We may be able to amortize the mortgage to a maximum of 40 years. This allow to free some income that can be interesting. This program is for to which kind of buildings? The buildings of 5 to 8 dwellings new or used which qualifies. What are the requirements in order to benifit from that? The investor must have a net value of 25% of the loan or a minimum of 100 000$ including the downpayments. The building must qualify according to the covered ratios of the debt. A evaluation report is required. In the case of a 7 or 8 dwellings, the environnemental study phase 1 is mandatory.

What is the amount of the required bounty by the SCHL ? In that case, the SCHL bounty is of 4.5% and can reach up to 5.25%, .25% is added per addditional 5 years. She is calculated based upon the amount of the mortgage.

The bounty is financed the same as the mortgage and it’s a deduction for taxes.
Thanks Danielle for the information provided.

You have a investment project, you want to discuss it ! Contact me for the purchase or for the sale of a building.