Gilles is a specialized heavy truck operator who is self-employed. He does a lot of deliveries in Quebec, western Canada, and the United States. Being self-employed, he sometimes has a lot of expenses.
He wants to buy a home that would have a good size lot with big garage to store his trucks and parts. He is currently renting a house at $2,000 per month plus storage for his trucks and parts for $2,000 per month for a total of $4,000 per month!
He has found a home that meets his needs perfectly. He has over 25% down payment and his credit rating is slightly below average.
Here are the details:
- Purchase: Saint-Jérôme
- Price: $400,000
- 25% down payment
- Private loan for 75% of the value: $300,000
- Monthly payment: $2,875 per month
- Term: 1 year
Gilles manages to:
- Enjoy the comfort of his new home today!
- Benefits from the annual appreciation of the house
- Saves $1,125 per month since he no longer pays for storage.
- Plus, we enrolled him the Canadian Credit Bureau’s credit repair program so that he can transition from a private loan to a traditional loan at the end of the term.
For needs met with one well structured solution, fill out our online application today!
