Financing question (Canada, Montreal)

[Cloud Renji]

I have found 3 very similar properties all in Montreal. I just can't figure out why the down payments indicated are so different for each one.

Costs 950 000$ and requires a 454 000$ down (47.789%)

https://patricemenard.com/en/3kl3xi/

Costs 1 100 000$ and requires a 525 000$ down (47.772%)

https://patricemenard.com/en/34vigw/

Costs 970 000$ and requires a 339 000$ down (34.948%)

https://patricemenard.com/en/afm569/

Very confused. Thanks.

[Guillaume D.]

Cloud Renji Once again, it's because the bank finances 75% of the property's economic value, NOT the purchase . Therefore, you have to pay the difference between the loan amount and the purchase price as your cash down amount whichever the % amount it is going to be.

The only time you will give 25% cash down, as you are refering to, is when economic value = purchase price, which is very rarely the case for anything listing on MLS in our market. If you want good deals and only put 25% down, you will have to find off-market deals at a significantly lower price than what you are currently looking at.