Example of use – New buyer

Choosing the Versatile Line of Credit to finance the purchase of a property gives borrowers the freedom to manage their current and future loans. Here's Mark Desjardins's financial summary.

Value of the home: $250,000

Mortgage: $191,000

Credit situation	Total financing	Total monthly cost
Without the Versatile Line of Credit	$209,000	$1,538
With the Versatile Line of Credit	$209,000	$926

Without the Versatile Line of Credit

Credit product	Amount	Rate	Term	Monthly cost
Mortgage	$191,000	Fixed at 5.00%	5 years	$668
Personal line of credit	$5,000	Fixed at 10.00%	Over 2 years	$230
Accord D financing	$9,000	Fixed at 0%	3 years	$250
Credit card	$4,000	Fixed at 17.00%	Over 1 year	$390
Total financing:	$209,000	Total monthly cost:  $1,538

With the Versatile Line of Credit

With the Desjardins Versatile Line of Credit, Mark can redistribute his credit products and, since he's applying security of mortgage to his financing, he gets a much better rate. This new distribution takes into consideration his tolerance to risk and ability to repay his debts.

Versatile Line of Credit (financing available = 80% of the value of the home): $200,000

New credit product distribution	Amount	Rate	Term	Monthly payment
Mortgage	Portion 1: $50,000	Reduced variable at 4.50%	5 years	$175
	Portion 2: $34,000	"5 in 1" at 5.30%	5 years	$120
	Tranche 3: $107,000	Fixed at 6.75%	5 years	$381
Line of credit (variable portion of the Versatile Line of Credit)	$9,000	Variable at 5.00%		$0
Accord D financing	$9,000	Fixed at 0%	3 years	$250
Total financing:	$209,000	Total monthly cost:  $926

The total monthly payment is significantly lower because the interest rates are better and the member can decide to have longer amortization periods.

	Online	See Versatile Line of Credit.
	By phone (Members)	Montreal area: 514-522-2373 Elsewhere in Canada and the U.S.: 1-800-CAISSES (1-800 224-7737)
	At the caisse (Members and non-members)	Make an appointment with a caisse advisor: online by phone