There are many reasons for buying a second home: you may be dreaming of a weekend place in the country, a chalet in the mountains, a downtown pied-à-terre for those trips to the big city or even a place for your children to live in while they’re away at university.
Whether it’s a seasonal getaway or a year-round home, National Bank’s Second Home Program will help you make your dream a reality.
Our solutions [1]
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Mortgage loan |
Line of credit |
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What about the equity in your current home?
Over the years, your main residence has almost certainly gone up in value. Why not tap into that equity to make a down payment on a second home or buy it outright?
In the end, buying a second home whether for weekend getaways, business stays or for your children to live while at university may be easier than you think! Contact your Mortgage Development Manager.
Photo: iStockphoto.
[1] Subject to credit approval by National Bank.
[2] If it exceeds 80% of property value, the loan must be insured with CMHC.
[3] If the loan amount exceeds 65%of the property value, the loan must be insured with Genworth
[4] Maximum authorized depending on the credit’s file.
[5] “Prime” means the annual interest rate posted by the Bank from time to time which is used to determine the interest rate on Canadian dollar demand loans granted by the Bank in Canada.
