Buy a second home

You've been dreaming about having a second home for several years and wonder how you can make it happen? You're about to purchase one and are looking for the best financing conditions on the market? No matter the situation, Desjardins has the perfect mortgage for your project.

Great weekends ahead, thanks to Desjardins!

• Minimum downpayment required
• Desjardins Preauthorized Mortgage
• Versatile Line of Credit: a flexible and valuable tool to purchase a second home
• Working with real estate professionals
• Useful addresses
• Loan Insurance
• Home insurance

Minimum downpayment required

The minimum downpayment required varies according to the type of second home (year-round or seasonal occupancy) and the type of loan.

Type of home	Minimum downpayment – Traditional loan	Minimum downpayment – Loan with CMHC mortgage insurance	Maximum amortization period
Home or cottage (year-round occupancy)	20% of the value of the property	5% of the value of the property if purchasing and 15% of the value of the property if refinancing	30 years (CMHC) 25 years
Second home (seasonal occupancy)	20% of the value of the property	N/D	25 years

Desjardins Preauthorized Mortgage

Want to simplify the negotiation process with the vendor or realtor? A Desjardins Preauthorized Mortgage lets you know the maximum financing amount you are eligible for and allows you to get your loan faster.

Talk to your caisse advisor today. He'll guide you and help you decide which mortgage is best suited to your situation. Ask him to also update your file and establish your borrowing profile. Take advantage of this opportunity!

Versatile Line of Credit: a flexible and valuable financial tool to purchase a second home

The purchase of a second home is the perfect opportunity to re-evaluate your financing portfolio and ask your advisor about the advantages of the Versatile Line of Credit.

The Versatile Line of Credit gives you access to financing of up to 80% of your primary residence's current value to finance the purchase of a second home, at a very good rate.

Working with real estate professionals

Looking for legal or financial information regarding this major transaction? Need the advice of a building expert? Don't hesitate to ask real estate professionals. Have a look at a list of resources and useful addresses that may come in handy.

Useful addresses

CMHC (Canadian Mortgage and Housing Corporation): www.cmhc-schl.gc.ca/en
Genworth Financial Canada (mortgage insurance provider): www.genworth.ca

Loan Insurance

Desjardins offers life and disability insurance that helps you meet your borrowing obligations in the event of disability or death.

Home insurance

Desjardins General Insurance lets you adapt your home insurance to your reality. Our basic home insurance offers coverage for most common risk (fire, theft, vandalism, civil liability, etc.) while our optional coverage lets you build your insurance policy to suit your specific needs (aboveground pool insurance, water damage insurance, etc.).

	At the caisse	Make an appointment with a caisse advisor: online by phone
		Documents to bring to your meeting.
	Through a mortgage representative	Documents to bring to your meeting Make an appointment for a house call. Representatives can meet with you at your convenience, 7 days a week: Find a mortgage representative Call 1-877-376-7181