Different loans for different transactions…

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Choosing your real estate loan according to the type of transaction


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Category: Practical guidelines
Chapter: Mortgages


Choosing your real estate loan

Buying a primary residence, a secondary residence, a rental investment property, a piece of land… Choose the right real estate loan for the type of transaction you want to make.

Buying a primary residence

Interest-free loan, subsidised loan, 1% housing loan may apply. The borrower must live in the home at least 8 months out of the year.

Buying a secondary residence

Only the conventional bank loan can be used to finance a secondary residence.

Buying a rental investment property

The state-guaranteed loan can allow the borrower to rent the property as long as it is the renter’s primary residence.

Buying a piece of land

The borrower must choose a conventional loan, or even a 1% housing loan if a home is built within no more than 4 years following the acquisition.


Updated on: 05/02/2008


And on the same subject:

The different real estate loans


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Real estate for sale by owner

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